LOAN PROPOSAL.
NEW SOUTH WALES GOES ON THE MARKET. BY CABLE—PRESS ASSOCIATION—(JOPYRIGHT Received 11 a.m. to-day. SYDNEY, Dee. 15. The State Government has decided to raise a loan of between £6,000,000 and £7,000,000 in London in the near future. DETAILS OF THE ISSUE. Received 11.20 a.m. to-day. LONDON, Dee. 14. The New South Wales loan surprised the market, as it was thought that, the issue of treasuary bills at the beginning of December would have filled requirements till the New Year. The new issue is paripassu with the existing 51 per cent. loan. The first interest payment is £2 payable on July 1, 1928. The prospectus states that the loan is being raised for construction -of railways and other public works. The three million treasuary bills and temporary advances borrowed in London will be repaid from the proceeds. The loan was favourably received on the Stock Exchange, which was specially pleased by the statement that the -whole of the sinking funds would be applied to the purchase of new ‘South Wales and other Australian Government securities on the London market. LOAN UNDERWRITTEN. Received 11.50 a.m. to-day. LONDON, Dec. 14. It is understood that the seven millions New 'South Wales loan has been underwritten at five and a quarter per cent., at ninety-nine and a half.
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Hawera Star, Volume XLVII, 15 December 1927, Page 9
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215LOAN PROPOSAL. Hawera Star, Volume XLVII, 15 December 1927, Page 9
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