CONVERSION OF LOANS
* —_ AUCKLAND TRANSPORT BOARD DECISION (I'EESS ASSOCIATION TELEGRAM.^ AUCKLAND, February 26. Conversion of loans totalling £290,000 was decided on by the Auckland Transport Board to-day. » The new rate of interest will be 4J per cent., and the date of maturity 1960. Under the former conditions, one loan of £IIO,OOO, carrying £5 19s Id per cent, interest, matured in 1950, and the balance at £5 per cent, interest matured in 19W« The new loan includes a premium of £7322 payable on the conversion of the main loan of April 1. The annual charges up to ly*will be approximately the same aunder the previous arrangements. After that date they will increas gradually until maturity, but wi avoid the steep increase after ltf?» which would take place under tne previous terms.
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Press, Volume LXXI, Issue 21409, 27 February 1935, Page 10
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130CONVERSION OF LOANS Press, Volume LXXI, Issue 21409, 27 February 1935, Page 10
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