SYDNEY LOAN.
HEAVILY OVER-SUBSCRIBED IN LONDON. THIRTY MILLIONS TOO MUCH. (Received Friday, 11.48 p.m.) SYDNEY, July 31. The Acting-Premier, Mr. Bruxner, announced that advice had been received from London that the two million conversion loan issued by the Sydney County Council, which administers the electricity undertaking in Sydney, has been oversubscribed in London by thirty million pounds. The loan, which bears interest at 4 per cent., was issued at 99. It is for the conversion of City of Sydney debentures and for repayment of the existing liabilities of the recently created Sydney County Council. The authorities here regard the oversubscription as phenomenal and in the particular circumstances extremely gratifying. Dealings in the loan opened at a premium of one-half to five-eighths. Applicants for up to £2,000 received no allotment. Applicants for £2,000 received 6} centum. The maximum allotment was £28,000.
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Bibliographic details
Wairarapa Age, 1 August 1936, Page 5
Word Count
140SYDNEY LOAN. Wairarapa Age, 1 August 1936, Page 5
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