NEW ZEALAND LOAN
BEST' WAY OUT OF A DIFFICULT POSITION. 67 Teleir«ph,— Prfcss Association.— Copyright. LONDON, 12th Jun*. The Times, .discussing the New Zealand four million loan, says thai although many people view short-dated issues with disfavour, this • vvae probably New, Zealand's beet way out of a difficult position. ■ Good judges were of opinion that it would liava been better finance to ieeuo a long 4 per cent, lomi at a trifle under par than to pay possibly a good deal over 4 for tlw chance of a renewal two years hence. WHAT THE UNDERWRITERS RECEIVE. WHY THE MARKET DISLIKED THE ISSUE. FACTS AS tITdOMINION'S CREDIT. (Received June 13, 9.30 a.m.) v LONDON, 12th June. The underwriters of the New Zealand loan will receive 87 per cent. The Times foaya the market did not like the issue, not only because the amount wae inconveniently large; but because 6he yield was so high as to make existing colonial securities look dear. No doubt the terms of this loan more nearly represent tho facts as to the credit of New Zealand and some other countries than the ideas hitherto prevailing in official circles.
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Bibliographic details
Evening Post, Volume LXXXIII, Issue 140, 13 June 1912, Page 7
Word Count
191NEW ZEALAND LOAN Evening Post, Volume LXXXIII, Issue 140, 13 June 1912, Page 7
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