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Tap issue stocks



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NO. >7S V. ■ a c t i n g TREASURER

EMBARGO 7.00PM. 25 SEPTEMBER 1981

STATEMENT BY THE ACTING TREASURER, SENATOR THE HON DAME MARGARET GUILFOYLE, OBE ._

TAP ISSUE STOCKS

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The 12.5 per cent April 1983 tap stock (tap stock No 13) has X been withdrawn from sale from the close of business -25 September, 1981. _

Tap stock No 13 went on sale on 11 May, 1981.

Although final figures are not yet available, it is expected

that subscriptions to tap stock No 13 will be in the order of

$ 502 million. .

As previously announced, this includes $120 million subscribed

by the Reserve Bank of Australia.

A new tap stock will be on issue from the commencement of

business on 28 September, 1981.

The terms and conditions for the new tap stock are:

Tap Stock No 16

Maturity June 1983

Coupon Rate 13.50%

Initial Issue Price 98.59

Initial Yield 14.50%

15 December, 1981

The initial price and yield will apply on the first day of

issue. Subsequent daily prices and yields will be available

from the Reserve Bank.

It is envisaged that tap stock No 16 will be available to an

amount in the order of $300 million. ' ■

Further details of the terms and conditions applying to tap

stock No 16 are contained in the relevant prospectus available

from the Reserve Bank.

The 12.5 per cent May 1988 stock (tap stock No 14) and the

. 13.0 per cent June 1984 stock (tap stock No 15) will remain . ; A . .

V - : - = · ; ■ · · ’ T Λ, on issue until further notice. *

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SPf ■■ ■ . ■ 'x-r ' CANBERRA ACT , · . · "" c?iT September, 1981