LOAN CONVERSION
AUCKLAND TRANSPORT BOARD. SUM OF £290,000 INVOLVED. By Telegraph—Press Association. Auckland, Last Night. The conversion of loans totalling £290,000 was decided on by the Auckland Transport Board to-day. The new rate of interest will be 4| per cent, and the date of maturity 1960. Under former conditions one loan of £llO,OOO, carrying £5 19s Id per cent, interert, matured in 1950 and the balance at £5 10s per cent, interest matured in 1952. The new loan includes , a premium of £7322 payable on the conversion of the main loan on April 1. Annual charges up to 1942 will be approximately the same as under the previous arrangements. After that date they will increase gradually until maturity, but will avoid the steep increase after 1942 which would take place under the previous terms.
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Bibliographic details
Taranaki Daily News, 27 February 1935, Page 6
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134LOAN CONVERSION Taranaki Daily News, 27 February 1935, Page 6
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