ARGENTINE DEBT
PROPOSED CONVERSION
(British Official Wireless.) BUGBY, September 13, A scheme for converting a large part of tho Argentine's debt from 5 per cent, to 4J per cent, on • all loans ia announced and underwriting ' took place yesterday.
Five Argentine loans are affected and holders will be invited to exchange into 4J's on terms entitling holders of maturing stock to receive new stock at a price equivalent to £93 3s 4d. No cash subscriptions will be invited. Nearly £10,000,000 of Argentine Government bonds are involved. When the operation is- completed there will bo a substantial saving to the Argentiuo Government and an increaso in the amount of foreign exchange available for current trading purposes.
City opinion on th^ proposal has expressed itself in a general rise in Argontino Government' and railway stOCKS.
Such of tho caljlo news on tills pago as Is so lieadod hna appeared in "Tlio Times" and Is ; cabled to Australia and New Zealand b> r special permission. It should bs understooc i that tbo opinions are not.those oC "Tho Xlmea'"! unless espressly stated to b« »«. :
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Bibliographic details
Evening Post, Volume CXVIII, Issue 65, 14 September 1934, Page 9
Word Count
180ARGENTINE DEBT Evening Post, Volume CXVIII, Issue 65, 14 September 1934, Page 9
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