Conversion Offer
(N.Z. Press Association! WELLINGTON, Sept. 16. The Minister of Finance (Mr Lake) today announced the terms of a conversion offer to holders of £7.1 million of Government stock maturing in the next three months. The terms offered are the same as for the last cash and conversion loans: 4 7-8 per cent stock for three years at par. 5 1-8 per cent stock for six years at par. 5} per cent stock for 16 years at £9B 10s. Mr Lake said that he was pleased with the results of the last conversion loan, which closed recently. Eightyone per cent of holders of stock totalling £lB.B million had converted.
The present offer would complete the programme of conversions for the present financial year, he said.
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Bibliographic details
Press, Volume CVI, Issue 31167, 17 September 1966, Page 1
Word Count
126Conversion Offer Press, Volume CVI, Issue 31167, 17 September 1966, Page 1
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