N.Z. borrowing at 6 per cent
PA Wellington New Zealand has issued SUS27OM of debt through the sovereign note programme recently set up in New York, the Associate Minister of Finance, Mr Caygill, has said. The programme, in the U.S. commercial paper market, allowed the Government to issue debt on a daily basis, he said.
The interest rates on the notes issued so far had been below 6 per cent, a “very competitive figure by any standard.” The funds will be used to refinance the overseas currency debt of the Think Big projects. "We are now well along the path of raising funds to cover refinancing the SNZ7.2 billion of debt outlined in the budget.”
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Press, 4 November 1986, Page 23
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115N.Z. borrowing at 6 per cent Press, 4 November 1986, Page 23
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