N.S. WALES FINANCE
< FURTHER LOAN FROM NEW YORK. EQUITABLE TRUST GROUP AS AGENT. (Pros Association—J'y Telegraph—Copyright.) NEW YORK, April 7. (Received April 8, at 5-5 p.m.) A Wail Street report states that the Equitable Trust group of banks will underwrite the new 25,000,000 dollar loan for New South Wales. It is understood that the loan will be a 31-year 5 per cent, sinking fund dollar bond issue. The company has purchased the loan and within a week or 10 days will offer it to the public. Observers while sceptical that the net return to New South Wales will be 94 or better, contending that the instrinsic conditions of marketing foreign bonds to the consumer in America are such that to underwrite the issue at these figures is unprofitable, admit that the opportunity of becoming the permanent American financial agents or advisers to New South Wales may induce the company to offer exceptionally attractive terms in the hope of securing the Slate’s future American financing. It is believed furthermore that the Equitable group has received an understanding that this will be the case.—A. and N.Z, Cable.
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Bibliographic details
Otago Daily Times, Issue 20070, 9 April 1927, Page 13
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185N.S. WALES FINANCE Otago Daily Times, Issue 20070, 9 April 1927, Page 13
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