NEW ZEALAND DEBENTURE REDEMPTIONS.
A Parliamentary paper which reached us yesterday shows that loans and debentures of the Dominion which matured during 1910-11 were renewed on favourable terms. The aggregate amount which matured was £623,190, and of this sum £512,313 was renewed and £70,427 redeemed, leaving £450 outstanding. The new debentures or State issued totalled £621,638, and the rates of interest ranged from to 4 per cent. By these transactions a net decrease of £IIO2 was made in the public debt, and an actual saving of £5lO per annum in interest charges was affected. As the average life of the debentures works out at 7% years, an approximate saving of close on £4OOO in interest must be credited to these transactions.
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https://paperspast.natlib.govt.nz/newspapers/WAIPO19111017.2.9
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Waipa Post, Volume II, Issue 53, 17 October 1911, Page 2
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121NEW ZEALAND DEBENTURE REDEMPTIONS. Waipa Post, Volume II, Issue 53, 17 October 1911, Page 2
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