AUSTRALIAN LOAN

Feilding Star, Volume 9, Issue 3849, 4 October 1932, Page 6

AUSTRALIAN LOAN

Not an Unlucky Number THE TERMS ANNOUNCED GOOD WORK BY MR BRUCE (Aust. and N.Z. Cable) f London, October 2. Tlie term s of the £13,000,000 Com. inonnwilili loan aie that it will be issued a t 3$ per cent, at £97 10s, tbo term bet fags' &vo years. It is being iiiifiuavnLurn on October 3 and tbo prospectus 'till be issued ou October 4. Tin® e-mversijjfii gives Australia giea L react iiiOi, u . her external debt burden. Tbo Daily Telegraph's financial editor say® that' the yield will be somewhat over 81® per cent. He advises tlie holders to convert, because it trill lie exchanging a New South Wale® security for one backed by the Commonwealth’s resources. LENGTHY NEG OTI ATI ON S The negotiation® fur the New South Males conversion lasted longer than any Australian loan for many years. Mr Bruce should have gone to Geneva, on. September 24 with the terms completed. Instead, lie spent the whole of last tveek in loan In. erviews.