N.Z. Plans Big New Conversion Loan
Received Tuesday, 1 a.m. LONDON, Feb. 14. The New Zealand Government plans a big new conversion offer on the London market in the near future, says the Evening Standard 's city editor. The offer will eoncern £7,322,579 of per cent inscribed stock 1949-1954, which is redeemable at any time on three months ' notieo. He adds that the New Zealand Government may pay off the odd arnount of stock out of its London sterling' balances, leaving the round figure of £7,000,000 to be dealt with by eash and conversion offer. The new loan, which is likely to be 3 per cent stock at around par, will 'be underwritten in the norma! manner. Full details of the loan are likely to be posted to holders of 3J per cent stock within the next two days. The present stock .was dealt in on the Stock Exchange at about .101.
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Chronicle (Levin), 15 February 1949, Page 5
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152N.Z. Plans Big New Conversion Loan Chronicle (Levin), 15 February 1949, Page 5
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