Refinancing to save N.Z. $700,000
PA Wellington The Minister of Finance, Mr Douglas, has announced a refinancing arrangement which he said would save New Zealand $700,000 a year. New Zealand had just concluded a £lOO million Eurosterling floating-rate issue to refinance maturing sterling debt, he said. The proceeds of the issue would be used to repay half of a £2OO million bank facility due to mature in the course of the next two months. In line with the Government’s policy of avoiding any increase in overseas debt, the balance of £lOO million, which would fall due in September, would be met at this stage from official reserves, Mr Douglas said. The interest rate on the new issue was lower than the rate of the debt being replaced, he said. The saving would be about $700,000 a year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19850807.2.41
Bibliographic details
Press, 7 August 1985, Page 6
Word Count
137Refinancing to save N.Z. $700,000 Press, 7 August 1985, Page 6
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.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.