LOAN. CONVERSIONS
♦ i AUSTRALIAN ISSUES
ON LONDON MAEKET
SAVING OF. INTEREST United Press Association.— By (Electric Telegraph.—Copyright. (Received June 8, 1 |p.m.) LONDOiN, June 7. Underwriting of Austra'Uan States' conversion loans in Londonois proceeding. The loans to be converted! and the terms include New South Wales, £12,360,959, at 3i per cent, por annum issued at £96 10s, and maturing 1950----52. This loan will replace 3i,jper cent, stock, issued at £97 10s and* maturing in five years. The conversion operation will enable an annual saving in interestlofl £36,344, equivalent to £46,000 in Australian currency. *'■ The total savings, expressed fin terms of Australian currency, by the converi sions in recent years is now £$,025,000. ! The above converted loan will be issued to the public on June 9L The new stock offers a flat | yield of £3 12s 7d per cent., and a total yield, allowing for redemption at the latest date, of £3 16s 2d.
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https://paperspast.natlib.govt.nz/newspapers/EP19370608.2.75
Bibliographic details
Evening Post, Volume CXXIII, Issue 134, 8 June 1937, Page 9
Word Count
153LOAN. CONVERSIONS Evening Post, Volume CXXIII, Issue 134, 8 June 1937, Page 9
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