HARBOUR BOARD LOAN.
REPAYING AUSTRALIAN DEBT.
ADVANTAGEOUS LONDON ISSUE
The Auckland Harbour Board lias completed arrangements through the Bank of New Zealand for a London loan of £155,000 at 5 per cent. The loan is required to redeem an Australian loan of £250,000, for which purpose an accrued sinking fund of £95.0C0 is available. Tho terms of the new loan, after allowing for exchange on the transfer of the funds from London to Sydney, show a cost to the board of under £4 16s per cent, per annum. Even if tho exchange on the half-yearly interest remittance to London is maintained at present rates throughout the full term of the loan the cost to the board will be less than £5 Is per cent, per annum.
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https://paperspast.natlib.govt.nz/newspapers/NZH19301119.2.51
Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20725, 19 November 1930, Page 10
Word Count
126HARBOUR BOARD LOAN. New Zealand Herald, Volume LXVII, Issue 20725, 19 November 1930, Page 10
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