MATURED LOAN
LARGE SUM REPAID THE £16,000,000 ISSUE [United Press Association] WELLINGTON, Bth January .Reference to the New Zealand Government 3£ per cent loan of £17,172,190 11s 4d which matured in London on Ist January, 1940, was made to-day by the Minister of Finance (the Hon. W. Nash) in an interview. Arrangements for converting this large amount of stock were made by the Minister during his last visit to London and it will be recalled that in July last holders of securities in this loan were invited to convert their holdings into 3i per cent conversion stock 1939-45. At the same time investors were invited to subscribe to a cash loan on similar terms, the amount of the combined cash and conversion loan being £16,000,000. Advice was subsequently received that the loan was fully subscribed for and, considering the unsettled . international situation existing at the time, the reception given the issue must be regarded as satisfactory, said Mr Nash.
The difference between the loan of £17,172,190 11s 4d and the new loan of £16,000,000 had been provided in New Zealand and the holdings of London subscribers who did not wish to convert were redeemed on due date.
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https://paperspast.natlib.govt.nz/newspapers/NEM19400109.2.122
Bibliographic details
Nelson Evening Mail, Volume LXXIII, 9 January 1940, Page 8
Word Count
197MATURED LOAN Nelson Evening Mail, Volume LXXIII, 9 January 1940, Page 8
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