A GREAT SUCCESS
NEW AUSTRALIAN LOAN DEALINGS AT PREMIUM (British Official Wireless.). Rec. 10- a.m. RUGBY, Sept. 27. Yesterday was the last day for lodging conversion applications for tho Commonwealth of Australia loan of approximately £21,000,000. Although details are not yet obtainable, the Times says it is possible to state that the issue, both as regards cash and conversion applications, has been a great success.
Cash subscribers to the Joan receive approximately 10 per cent, of the amount applied for. Dealings opened at from £1 5s to £1 10s premium. Details of the conversion loan, involving £20,951,000, were announced at Canberra by Mr. J. A. Lyons. The cash applications received were 10 times greater than the stocks available for allotment. Conversion applications were allotted in full, and cash applications were allotted at the rate of approximately 10 per cent. The new issue bears interest at 3J per cent, and matures in 1953, the interest yield to the investor being £3 17s lid per cent. The savings in interest and exchange amount- respectively to £426.000 and £107,000.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18206, 29 September 1933, Page 7
Word Count
176A GREAT SUCCESS Poverty Bay Herald, Volume LX, Issue 18206, 29 September 1933, Page 7
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