N.Z. LOAN UNDERWRITTEN
NEW 5 PER CENT. ISSUE OFFERED AT 98 DOMINION’S HIGH CREDIT (Australian and N.Z. Press Association) (United Service) Reed. 10 a.in. LONDON', Friday. The New Zealand loan has been underwritten. It. is needed to meet the outstanding balance of the 4 per cent- consolidated stock maturing oa November 1. The city editor of the ''Morning Post" says New Zealand’s credit stands high and the terms now mentioned are in harmony with its status. It is believed the amount of the outstanding debt has been reduced through the operation of sinking funds, to less than £lo,l|'o,ooo. The New Zealand Government offers to holders of about £9.700.000 of the 4 per cent, stock a new 5 per cent, inscribed stock, dated 1933-45, to the amount of £5,000.000 at 9S. The balance of about £4,700.000 will be repaid in cash on November 1. Thus New Zealand is not seeking any fresh money at present, but instead is redeeming practically 50 per cent, of the amount outstanding.
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Bibliographic details
Sun (Auckland), Volume III, Issue 768, 14 September 1929, Page 11
Word Count
166N.Z. LOAN UNDERWRITTEN Sun (Auckland), Volume III, Issue 768, 14 September 1929, Page 11
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