N.Z. £20m LOAN
Terms Popular In London (N 2P-A.-Reuter— Copyright) LONDON. May 16. New Zealand’s £2om loan offer has been favourably received on the London market. General opinion was that unless there was a material detoriation in market conditions before Thursday the stock would either be fully subscribed immediately or would quickly find its way into more or less permanent portfolios, says "The Times’’ financial editor. “The terms are marginally dearer to the borrower than those offered by the recent series of Home Corporation issues. Historical “Nevertheless the redemption yield of nearly 6} per cent, for medium dated New Zealand stock is high both historically and absolutely and is a measure of the difficulties at present facing all would-be gilt edged borrowers, especially overseas borrowers.
“New Zealand stocks have always been particularly popular with British investors. With Australian issues they head the list of overseas securities and they therefore command the finest terms.”
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Press, Volume C, Issue 29516, 18 May 1961, Page 19
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153N.Z. £20m LOAN Press, Volume C, Issue 29516, 18 May 1961, Page 19
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