N.Z. CONVERSION.
Chance of -Attractive Terms
In London.
£9,000,000 "CALLABLE" LOANS,
LONDON, October 2.
The city editor of the "Daily Telegraph" says that with the Treasury's immediate plans fulfilled, New Zealand has a chance of securing attractive terms for her £9,000,000 "callable" loans. The firmness of wool prices has attracted much attention in London and there has been an equally striking recovery in butter.
"In one respect New Zealand's outlook is more healthy than Australia's, says the writer, "for none of the important New Zealand primary products has accumulated surplus stocks. South Africa also is a borrower in the queue competing against New Zealand for an early place."
The £9,000,000 embraces the two New Zealand loans which have reached their optional maturity dates. One of £5,000,000 is at 5 per cent, a short-dated loan raised in 1931. It can be redeemed at any time after July, 1932, and it matures in July, 1934. The other loan is £4,000,000 at 4 per cent raised in 1923 with optional maturity 1933 and maturity 1934. This offers no great possibility of benefit to New Zealand on conversion, but a substantial saving should be effected on the £5,000,000 at 5 per cent.
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https://paperspast.natlib.govt.nz/newspapers/AS19331003.2.89
Bibliographic details
Auckland Star, Volume LXIV, Issue 233, 3 October 1933, Page 7
Word Count
198N.Z. CONVERSION. Auckland Star, Volume LXIV, Issue 233, 3 October 1933, Page 7
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