AUSTRALIAN LOANS

Southland Times, Issue 22473, 8 November 1934, Page 7

AUSTRALIAN LOANS

REFUNDING OPERATION. (British Official Wireless.) Rugby, November 6. The Chancellor of the Exchequer has agreed to an immediate Commonwealth of Australia loan for the purpose of refunding, in addition to certain maturities due in December, January, April and May next, the following loans, which are redeemable at the option of the borrower during the next year: Western Australia, 5 per cent., 1935-45; South Australia, 4 per cent., 1917-80; Tasmania, 4 per cent., 1920-40. The Chancellor wishes it to be understood that this does not in any way imply the withdrawal of his request regarding the optional conversion of trustee securities. PARTICULARS OF LOANS. (United Press Assn.—Telegraph Copyright.) London, November 6. Mr S. M. Bruce announces the underwriting to-morrow of the following conversion obligatory redemptions: 1934 South Australian, £789,400, 3$ per cent.; 1935 Tasmanian, £137,750, 4} per cent.; 1916/35 South Australian, £1,559,150, 4 per cent.; 1915/35 Western Australian, £2,235,007, 3 per cent.; 1915/35, £463,110; per cent.; and 1920-35, £2,496,711, 3> per cent., all to 3J per cent, at £99. Mr Bruce also announced similar terms for the following conversions:— 1917/36 South Australian, £2,175,815, 4 per cent.; 1935/45 Western Australian, £3,744,863, 5 per cent.; 1920/40 Tasmanian, £1,000,000, 4 per cent. All will yield 66/-. The prospectus is being issued on Thursday and will open and close for cash application on Friday.. Conversion applications close about November 16.