PRIME MINISTER EXPLAINS TERMS OF NEW ISSUE
(Press Assn.-
I LARGE SAVING PROBABLE
-By Telegraph — Copyrlgnt).
(Rec. 10.55 p.m.) Canberra, Sept. 13. The Prime Minister, Rt. Hon. J. A. Lyons, discussing the Australian conversion loan, said that it was expected that the terms would be 31 per cent at £98 for 20 years, with an option by the Government to repay at 15 years. The yield to the investor, allowing for redemption after 20 years, wac £3 17s lld. The operation covered £15,00Q,000 Commonwealth 6 per | cent. loan, £4,901,000 New South Wales 52 per cent. loan, and £1,055,000 West Australia 52 per cent. loan. The terms therefore represent an appreciable improvement over the previous long term conversion.
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Rotorua Morning Post, Volume 3, Issue 636, 14 September 1933, Page 5
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117PRIME MINISTER EXPLAINS TERMS OF NEW ISSUE Rotorua Morning Post, Volume 3, Issue 636, 14 September 1933, Page 5
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