LOAN CONVERSION
AUSTRALIAN ISSUE
OFFERED IN LONDON
(By; Tele, -apli— Press- Assn.—Gopyrit;ht.) •■ (Received November 16, 10.30 a.m.) ! .'■'■■•' LONDON, November 15. . It is understood that an Australian ' conversion operation is imminent. (Received November 16, 10.45 a.m.) LONDON, November 15. The Australian High Commissioner. 1 the Hon. Stanley Bruce, has announced that' arrangements have been made for underwriting on November 16 the cony , version of an Australian loan of , £11,409,965 Of 3J per cent, stock, due on February 1, 1988. The new conversion loan will be >' made up as follows:—New South Wales, £6,427,4i5; South Australia, £2,982,500; „ Tasmania, £2,000,000. ..,- The terms are at the rate of 3£ per -cent, per annum, and the issue price,is at £97, with a currency of 13 ; to 16 years, maturing in 1954, with the option Ao redeem in 1951, or thereafter, on giving three months' notice. ■ The yield to investors is calculated , at the latest date of maturing at £3 , 15s Id. ■■-.:. '-.■-, -~■■-. • The prospectus. will be issued on November 17, and lists for cash subscriptions will be opened and closed ■ on' November 13.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19371116.2.126.2
Bibliographic details
Evening Post, Volume CXXIV, Issue 119, 16 November 1937, Page 12
Word Count
176LOAN CONVERSION Evening Post, Volume CXXIV, Issue 119, 16 November 1937, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.