A.G.C.N.Z. DEB. ISSUE
Higher Rates Of Interest (N.Z. Press Association) AUCKLAND, Sept. 20. The Australian Guarantee Corporation (New Zealand), Ltd., Auckland, is offering slightly higher interest rates in its third £500,000 debenture issue, which opened today. Only the top rate, 7 per cent for 10 and 12 years, is unchanged compared with the terms of the issue which opened in November. The three-month rate has been raised from 4 3-8 per cent to 4i per cent and the other terms offer 1-8 to 1 per cent more. Principal and interest are guaranteed by the Australian parent company, in which the Bank of New South Wales holds a 43 per cent interest. Stock of £300,000 of three years or more has been underwritten by Daysh, Renouf, and Company, members of the Wellington Stock Exchange. Directors say in the prospectus that most of the company’s transactions cover a period of less than two years and that the liquidity position was favourable. Outstandings at March 31 were £2,194,294, of which £900,000 was on loan to the sister company, Alliance Finance Corporation (N.Z.). which handled most of Ford’s hire-purchase business. By August 31, debentures for £2.592,190 had been issued.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19660921.2.220
Bibliographic details
Press, Volume CVI, Issue 31170, 21 September 1966, Page 21
Word Count
195A.G.C.N.Z. DEB. ISSUE Press, Volume CVI, Issue 31170, 21 September 1966, Page 21
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in