AUSTRALIAN FINANCE
COMMONWEALTH LOAN. CASH APPLICATIONS. (Received Tuesday, 8.40 a.m.) LONDON, Monday. The Press Association understands that cash applications*for the Commonwealth Loan are in the neighbourhood of £100,000,000. The Federal Prime Minister, the Hon. J. A. Lyons, discussing the conversion, on 12th September, said that it was expected that the terms would be 3J per cent, at 98 for twenty years, with the option to the Government to repay after fifteen years. The yield to the investor, allowing for redemption after twenty years, was £3 17s lid per cent. The operation covers £15,000,000 Commonwealth 6 per cent loan, £4,901,000 New South Wales oil per cent, and £1,050,000 Western Australian 5£ per cent. The terms therefore represent an appreciable improvement over the previous long-term conversion.
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Bibliographic details
Wairarapa Daily Times, 26 September 1933, Page 5
Word Count
124AUSTRALIAN FINANCE Wairarapa Daily Times, 26 September 1933, Page 5
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