Marac offers higher rates
Marac Finance, Ltd, has increased the rates of interest on all terms of debentures and notes in its latest issue. The increases range from 1 per cent to i per cent with the biggest increases applying to debenture stock for nine-month and 12-month terms. The rates payable on these rises from 5} per cent to 6i per cent, and from 6} to 7 per cent respectively. The top rate on debentures has been lifted from 8 per cent to 8i per cent for 10 to 15-year stock. The managing-director (Mr J. D. Rose) says that the issue has been filling very satisfactorily. Unsecured notes at call will now earn 51 per cent compared with 3| per cent, and the 5 year, term notes will now earn 81 .per cent compared with 8 per cent previously. The compounding stock option on debentures is still available for periods of 3 to 15 years inclusive. Interest is paid at the rate for the next longest debenture term under this scheme.
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Press, Volume CXI, Issue 32562, 23 March 1971, Page 16
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171Marac offers higher rates Press, Volume CXI, Issue 32562, 23 March 1971, Page 16
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