REDEMPTION LOANS
Christchurch Tramway
Board
By Telegraph.—Press Association.
Christchurch, September 19. The Christchurch Tramways Board has completed negotiations for the raising of two large redemption loans of £317,500 and £75,000. This money with substantial sinking funds will be used to redeem debentures which become payable on October 1. The loan of £317,500 has been taken up by the A.M.P. Society. For the smaller sum the board has made temporary arrangements with its bank pending flotation at a later date, when it is expected interest rates will be lower than at present. The board under the scheme for the conversion of loans will make a saving in interest of £ll,OOO yearly.
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https://paperspast.natlib.govt.nz/newspapers/DOM19340921.2.74
Bibliographic details
Dominion, Volume 27, Issue 305, 21 September 1934, Page 9
Word Count
110REDEMPTION LOANS Dominion, Volume 27, Issue 305, 21 September 1934, Page 9
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