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DEVELOPMENT LOAN

Subscriptions Total £15.1m (New Zealand Press Association) WELLINGTON, July 6, The Government’s £l5 million development loan was over-sub-scribed, the Minister of Finance (Mr Nordmeyer) announced today. The total received was £15,100,000. Mr Nordmeyer announced that the Government has approved an offer of conversion to holders of loans maturing on August 15 and September 15 next “On August 15 a loan of £15.3 million matures. This loan carries interest at the rate of 4) per cent. On September 15 another loan of £16.4 million matures, and the interest rate on this stock is 31 per cent. “The terms to be offered in the conversion are the same as in the recent £l5 million cash loan,” said Mr Nordmeyer. “These are: 41 per cent, maturing on July 15, 1963; 41 per cent, maturing on July 15, 1965-66; and 4} per cent, maturing on July 15, 1970-72.”

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19600707.2.92

Bibliographic details

Press, Volume XCIX, Issue 29250, 7 July 1960, Page 12

Word Count
146

DEVELOPMENT LOAN Press, Volume XCIX, Issue 29250, 7 July 1960, Page 12

DEVELOPMENT LOAN Press, Volume XCIX, Issue 29250, 7 July 1960, Page 12