ABOVE 3¾ PER CENT
AUSTRALIAN CONVERSION A SPORTING RISK (Received December 5, 3 p.m.) LONDON, Dec. 4. Excluding £16,647,000, which is being underwritten to-morrow, only £17,854,000 of Australian optional loans remain in London. Tho delay in tho present operation, which Mr. 8. M. Bruce was ready to launch weeks ago, is due to the unsatisfactory state of the market, largely owing to' the uncertainty of tho dollar. The past few days have seen only a slight improvement, but Air. Bruce apparently decided to take a somewhat sporting risk before the arrival of the unsettling Christmas atmosphere. The new conversion loan gives a flat yield of £3 15s 9d, and a redemption yield of £3 16s 9d, which Mr. liruce regards as flattering to Australia in view of the market conditions. The prospectus will be published on Wednesday and the loan opens and closes on Thursday. Existing holders are allowed 10 days in which to convert.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18263, 5 December 1933, Page 6
Word Count
155ABOVE 3¾ PER CENT Poverty Bay Herald, Volume LX, Issue 18263, 5 December 1933, Page 6
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