B.H.P. U.K. DEB. ISSUE

Press, Volume CI, Issue 29843, 8 June 1962, Page 15

B.H.P. U.K. DEB. ISSUE

Underwriters Called On (N.Z.P. A.-Reuter —Copyright) LONDON, June 6. Six underwriters for the £7.5 million 6f per cent, debenture stock, 1977-87, in Broken Hill Pty. Company, Ltd., have been called upon to take up 87.7 per cent, of the stock, “The Times” said today. Applications for the issue amounted to only £920,000. The stock was issued at 98J per cent., offering a yield to redemption of £6 17s 2d. The London issue—the first of its kind by an Australian company since the war—was to finance the current B.H.P. five-year programme involving £250 million.. An issue of £l2 million 7 per cent, debentures in Australia in April was heavily oversubscribed. / Nabisco Offer Accepted (N.Z Press Association) WELLINGTON. June 1. Directors of Griffin and Sons, Ltd., announce that acceptances of National Biscuit Company’s offer representing more than 90 per cent, of the shares in the company had been received. They now await verification by National Biscuit of the undertakings and assurances given as set out in their offer. Lend Lease.— Lend Lease Corporation, Ltd., has issued 200.000 5s ordinary shares at a premium of 15s a share to finance the acquisition of long term income producing assets. It was an off-market placement. Gordon and Gotch.—Gordon and Gotch (Australasia), Ltd., Melbourne. lifted group profit £124.902, or 38.3 per cent- to a record £450.753 in the year to March 31. The latest profit is £27.000 higher than the previous record established in 1957-58. Ordinary dividend, already announced, is lifted from 16 2-3 per cent to 18 1-3 per cent. Leyland Motors. Leyland Motors and Associated Commercial Vehicles are proposing to amalgamate to form the world’s largest manufacturer of heavy commercial vehicles, the "Financial Times” reported The combined group would have total assets of more than £124m.. and an equity with a market capitalisation of more than £7ltn. at current prices.