Auckland Power Board Loan Issue
[Per Press Association. — Copyright .l
AUCKLAND, This Bay
A prospectus is to be issued bj r the Auckland Electric Power Board next week in respect of its loan of £290,000 for a term of 20 years, bearing interest at 4’, per cent., with a sinking fund of 3i per cent, to be invested with the District Public Trustee.
Authority has already been obtained for the loan, which is the balance of the £675,000 loan authorised in 1928.
The full amount was not required then, and in recent years the board has been unable to sell debentures at the interest rate fixed by the Government. 3i per cent. With the rate now increased to 4', per cent,, the board’s chairman, Mr S. J. Harbutt, considers the loan will be a most attractive investment. It is not anticipated that there will be any trouble in raising all the money required.
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Bibliographic details
Northern Advocate, 3 June 1939, Page 6
Word Count
153Auckland Power Board Loan Issue Northern Advocate, 3 June 1939, Page 6
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