FEDERAL LOAN.
Australian Flotation to Be Issued Next Week. £7,500,000 AT 3| PER CENT. SYDNEY, November 19. The Federal Treasurer announces that a Commonwealth loan of £7,500,000 will be opened for public subscription on November 20. The interest will be 3Jpcr cent and the issue will be at 99J. The loan.will be repayable in 1949. On the terms stated the yield to the investor, including redemption in 1949, will be £3 15/6 per cent per annum. The last Commonwealth loan of £12,500,000 was issued in June at £99 10/, bearing interest at 3% per cent, and repayable at par in 1949. The yield, including redemption, was £3 8/5 per cent. In regard to the new loan £6,500,000 will be devoted to public works, according to allocations to the Commonwealth and States, and the remaining £1,000,000 to the reduction of deficits. It is proposed to raise another loan for public works for the balance of the financial year, the terme of which will be decided upon at the next Loan Council. The loan was underwritten by the Commonwealth Bank.
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https://paperspast.natlib.govt.nz/newspapers/AS19351120.2.58
Bibliographic details
Auckland Star, Volume LXVI, Issue 275, 20 November 1935, Page 7
Word Count
178
FEDERAL LOAN.
Auckland Star, Volume LXVI, Issue 275, 20 November 1935, Page 7
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