NEW ZEALAND LOAN
CONVERSION IN LONDON. RECEPTION CONSIDERED SATISFACTORY. A statement on the New Zealand Government 3A per cent loan of £17,172,190 Ils 4d, which matured in London on January 1, was made yesterday by the Minister of Finance, Mr Nash. Arrangements for converting this large amount of stock were made by the Minister during his last visit to London and in July last holders of securities in this loan were invited to convert their holdings into 3 A per cent conversion stock 1939-45. At the 'same time investors were invited to subscribe to a cash loan on similar terms, the amount of the combined cash and conversion loan being £16,000,000. Advice was subsequently received that the loan was fully subscribed for and, considering the unsettled international situation existing at the time, the reception given the issue must be regarded as satisfactory, said Mr Nash. The difference between the loan of £17,172,190 11s 4d and the new loan of £16,000,000 had been provided in New Zealand, and the holdings of London subscribers who did not wish to convert were redeemed on due date.
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Bibliographic details
Te Awamutu Courier, Volume 60, Issue 4229, 10 January 1940, Page 7
Word Count
183NEW ZEALAND LOAN Te Awamutu Courier, Volume 60, Issue 4229, 10 January 1940, Page 7
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