LOAN CONVERSION
4.30 ' O’CLOCK EDITION.
AUSTRALIAN PROPOSITION LOW lATI 0F INTIRIST. 4 LARGE ANNUAL SAVING. United Press Assn—Exec. Tel. Copyright. (Received June 4, 3 pm.) . LONDON, June 3. Mr S. )1. Bruce. Australian .\lint-stet‘ In London, has announced the under—“Titing of a conversion loan totalllnp: “6.3513103 bearing interest at '2l per cent‘ and Issued at £99, maturing 1941-43. The loans to be converted are:—
New South \\'ales. 510,954,600. present interest 44} per rent. South Australia £2,368,141. interest. 35 per cent‘ Western Australia, £2.63t,10.‘>, interest H per cent. Western Australia. EWI-197, interest :5 per cent. A south Australian and the smaller \\'estern Australian loans mature on July 1 and December 12 respectively. the others are optional. but Mr Bruce has decided in favour of a large issue which will end his programme totall—ing “98.000.000 since October. 1932. with a total annual interest saving of £3,979,000 (Australian).
The final operation is believed to be the lowest rate of Interest touched by Australia In modern times and gives a yield to the date of redemption of £2 185 6d.
"Tllve'prdspectus will be published on Monday. , A
“V’Fl‘x‘gwloan will open and close for chh applicants on Tuesday.
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Waikato Times, Volume 119, Issue 19903, 4 June 1936, Page 8
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193LOAN CONVERSION Waikato Times, Volume 119, Issue 19903, 4 June 1936, Page 8
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