NEW ZEALAND LOAN
LATEST LONDON ISSUE (United P.A.—By Telegraph — Copyright) (Australian and N.Z. Press Association) Rec-d. 9.5 a.m. LONDON. Tuesday. The final instalment of the New Zealand loan. 35 per cent, of which is payable on May 2, allowing for redemption in 1958, will yield £4 16s 5d per cent. Holders of four per cents, maturing on November 1, 1929, are invited to convert at the rate of £lO4 5s in the new 4\ per cent, stock for every £IOO in four per cents, surrendered for conversion. The offer is limited to £12.000,000. Holders converting will receive on March 1929 four months’ interest, and a full half-year’s interest on the 4j issue will be paid on September 1, 1929. Cash applications close on January 11 for conversion. Underwriting has been arranged (said a message yesterday) of a New Zealand load for both the raising of new capital and the conversion of existing debt. The former is expected to be £7,000,00*', of 41 per cent, stock of 1945-59 59 currency. The price of issue will be 95. In addition, £12,000,000 of the new stock will be offered on similar terms to holders of the 4 per cent, i-oiisols which mature on November 1, 1929. The prospectus will be advertised
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Bibliographic details
Sun (Auckland), Volume II, Issue 557, 9 January 1929, Page 9
Word Count
208NEW ZEALAND LOAN Sun (Auckland), Volume II, Issue 557, 9 January 1929, Page 9
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