Daily Board loan likely success
The Dairy ’ Board loan, shows every chance of being a big success according to Mr Bruce Buxton, of Renouf and Company, who are managing the issue. “We’re delighted with the response,” he said.
The board banked SSM worth of subscription on Thursday — the best response since the issue opened.
This came from nearly 100; applicants. Applications and firm allocations from institutions, brokers and other to date total S22M Mr Buxton said.
The issue is seeking S2SM with oversubscriptions of SIOM. “This is a phenomenal response — the best we’ve ever had,” Mr Buxton said. “The issue has effectively only been open for two weeks.” Asked if any type of security was proving • more popular, Mr Buxton said all sectors were responding, from the biggest institutions to people with a few hundred; dollars in their savings accounts.
The total number of applications to date is 850. Unless it is filled earlier, the issue is due to close in November. The issue proved controversial when the Prime Minister (Mr Muldoon) initially forbade the board from going ahead with it as he considered the rates' were too high. He eventually approved it with rates cut by around half a per cent.
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Press, 22 September 1980, Page 26
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202Daily Board loan likely success Press, 22 September 1980, Page 26
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