LOAN FOR SYDNEY.
FLOTATION IN NEW YORK. United Press .Assn.—Elec. Tel.—Copyright. NEW YORK, April 7. An issue of £1,500,000 of bonds of (he Sydney Metropolitan Water and Sewerage Board, bearing interest at 5J per cent., will be placed on the market to-inorrow at 92. The bonds may be repaid at par at any interest date from May 1, 1940. It is understood a cumulative sinking fund of J per cent, annually will be used to purchasb the bonds in the market at or below par or to draw ‘bonds by lot at that price. The bonds are to have a currency of 20 years, according to a cable message published yesterday, so that the yield to investors, including bonus on redemption, will be £6 4s 4d per cent. The Water Board appears to have obtained better terms than the City of Sydney, .which issued 25 years’ bonds bearing 5J per cent, interest, at 90, giving a return of £6 6s 2d per cent.
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Waikato Times, Volume 107, Issue 17991, 9 April 1930, Page 5
Word Count
163LOAN FOR SYDNEY. Waikato Times, Volume 107, Issue 17991, 9 April 1930, Page 5
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