A.G.C. rates reduced
Australian Guarantee Corporation (N.Z.), Ltd, will offer lower interest rates from February 27. The top rate on debenture stock will be 124 per cent per annum for 4 and 5 years, and 12.75 per cent- on unsecured notes for a 3 year term.
The rates reflect a drop of between | per cent and 1} per cent on the rates previously available. The manager for New Zealand, (Mr K. D. Cotton) says that the new rates have been introduced in response to the Government’s call to finance companies to endeavour to reduce interest rates, in order to assist manufacturers and exporters. “We believe it is now possible for finance houses to lower interest rates, because of the improved in-flow of funds, and we are pleased, once again, to be first to introduce these new rates,” says Mr Cotton.
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Press, 24 February 1978, Page 13
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140A.G.C. rates reduced Press, 24 February 1978, Page 13
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