£10,250,000 LOAN
COMMONWEALTH ISSUE AMOUNT OVER-SUBSCRIBED DEFENCE AND PUBLIC WORKS , (Received Juiie 0, 9.30 p.m.) CANBERRA. Juno 0 The Federal Treasurer, Mr. 11. G. Casey, announced to-day that; the Commonwealth loan of £10,250,000, which closed on Friday, had been oversubscribed by £128,000, which is regarded as an excellent result. The loan will bear interest at the rate of .'32 per cent per annum, and will be repayable oil August 15, 1954, the Treasurer having the option of redeeming the loan on or ).after August 15, 1952, on giving three months' notice.
the issue price is £99 10s per £IOO face value, arid the average annual yield to the investor, over the full term of the loan, will be £3 15s lOd per cent. Of the total amount of the loan £4,000,000 is required toward the financing of the cost (£15,000.000) of the first year of the enlarged defence programme. The balance of the loan, £6.250,000, is to be applied toward the completion of the ordinary loan and public works programmes of the various Governments.
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Bibliographic details
New Zealand Herald, Volume LXXV, Issue 23057, 7 June 1938, Page 11
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174£10,250,000 LOAN New Zealand Herald, Volume LXXV, Issue 23057, 7 June 1938, Page 11
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