N.Z. LOAN ISSUE

Grey River Argus, 15 October 1936, Page 6

N.Z. LOAN ISSUE

NEARLY 14 MILLIONS AT 31 AND 3 PER CENT. Conversion Offer Tn this issue, the Reserve Bank of New Zealand an issue of £13.930,000 of Government loans. This is one of the most important financial offers for years, and will doubtless command Dominion-wide support. The issue' is in the form of either: Three, and a-half per cent, stock or debentures, repayable 1953-57; or three per cent, stock or debentures, to bei repayable 1939-41,. for payment i,n. cash,, or in exchange for holdings of four per cent, stock or debentures 1937-40. Thie> Reserve Bank notifies that it is authorised on behalf of the Finance Minister to receive applications for the above-mentioned New Zealand Government stock or debentures.

For cash debentures, 'cash applications are invited. The price of issue for both loans is £lOO per cent., payable as follows: On application £4 per cent.; on Monday, January 18. 1937. £93 per cent. The. Government at the same time makes an offer of conversion. The hoi'dcr s of four per cent. Government stock and debentures 1937-40 are offered conversion, in whole or in part, into an equal nominal amount of either of the new issues. Any four per cent, stock or' debentures subject to this offer and not converted, will be repaid at par on nr after January 1", 1937. Prciferential allotment -will be given to applications for conversion. Cop’es of the prospectus and forms of Lapplbcation may be obtained at ♦ho Reserwe Bank of New Zealand. WeFington; from any Stock Exchange : n New Zealand; at any branch of n-'v bank in the Dominion; or a 1 any Postal Money Order Office in New Zealand. The V c ts for both cash and conversion applications will be opened forthwith, and will be .-losod on Thursday, November 5. 1936.