$1B tender planned
By
PATTRICK SMELLIE
in Wellington The Government is to launch a new benchmark long-dated stock with a tender programme of around $1 billion envisaged for the 1989/90 financial year, the Minister of Finance, Mr Caygill announced last evening. The new stock will carry a 10 per cent coupon and maturity of February 15, 1995. The first tender for S3OOM of stock will be held on August 10. Details of subsequent tenders will be announced later. “It is important to note that this new issue will not raise any new money from the market,” said Mr Caygill. “All the proceeds will be used to repurchase existing stock.”
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Press, 28 July 1989, Page 5
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109$1B tender planned Press, 28 July 1989, Page 5
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