NEW LOAN OPERATION.
Mr Bruce Takes Sporting Chance. (Continued from ’Page 1.) United Press Assn.—By Electric Telegraph—Copyright. (Received December 5, 12.50 p.m.) LONDON. December 4. Excluding £16,647,000 which is being underwritten to-morrow, only £17,854,000 of Australian optional loans remain in London. The delay in the present operation, which Mr Bruce was ready to launch weeks ago, was due to the unsatisfactorj” state of the market, largely owing to the uncertainty of the dollar. The past few days have seen only a slight improvement, but Mr Bruce apparently decided to take the somewhat sporting risk before the arrival of the unsettling Christmas atmosphere. ' The new conversion gives a flat yield of £3 15s 9d and a redemption yield of £3 16s 9d, which Mr Bruce 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 ten days in which to convert.
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Bibliographic details
Star (Christchurch), Volume LXIV, Issue 936, 5 December 1933, Page 7
Word Count
160NEW LOAN OPERATION. Star (Christchurch), Volume LXIV, Issue 936, 5 December 1933, Page 7
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