N.Z. To Offer 25m-Dollar Bond Issue In U.S.
(N.Z. Press Assn.—Copyright) NEW YORK, April 13. The New Zealand Government announced plans yesterday to offer 25 million dollars of bonds, due on May 1, 1977, in the United States market through an American investment banking group. In a registration statement, New Zealand said the proceeds would be used for capital works and expenditures, the “New York Times” reported.
The principal and the interest of the loan would be payable in United States dollars.
The bonds would benefit from a sinking fund, beginning on November 1, 1964. sufficient to retire 85 per cent, of the issue before maturity. Otherwise the bonds w-ould not be callable for 10 years, the newspaper reported.
New Zealand sold 20 million dollars worth of 15-year 5| per cent, bonds in the United States market on October 25. It said it would seek listing for the new issue on the New York Stock Exchange.
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Press, Volume CI, Issue 29798, 14 April 1962, Page 10
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156N.Z. To Offer 25m-Dollar Bond Issue In U.S. Press, Volume CI, Issue 29798, 14 April 1962, Page 10
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