MONEY MARKET.
SOUTH AFRICAN LOAN
FIVE MILLION ISSUE. (Received 10 a.m.) LONDON, May 23. Underwriting has been completed for a new .South African £5.000.000 loan, 3% per cent, at OB'/i, redeemable in 1954-9. J his represents an entirely new jssue, as Smith Africa has no early maturities. The market believes it will be a success.
Tlie return to the purchaser, assuming redemption in 1954, is approximately 3 4-5 per cent per annum and for the longer term 3% per cent per annum.
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Bibliographic details
Auckland Star, Volume LXX, Issue 120, 24 May 1939, Page 8
Word Count
82MONEY MARKET. Auckland Star, Volume LXX, Issue 120, 24 May 1939, Page 8
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Acknowledgements
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