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Tap issue stocks



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TREASURER

EMBARGO' NOT FOE RELEASE BEFORE 7.00EM, FRIDAY 9 MAY

DRAFT PRESS STATEMENT

STATEMENT BY THE TREASURER, THE HON JOHN HOWARD, MP

TAP ISSUE STOCKS

The 11.7 per cent April 1985 tap stock has been withdrawn from sale from

the close of business ^ May 19807

This stock was the longer maturity stock of the two initial tap stocks

(11.5 per cent April 1982 and 11.7 per cent April 1985) introduced on

30 April. λ .· . ’ ■

The-April 1985 stock was very well received by the market and, although

final figures are not yet available, it is expected that subscriptions

to this stock will be in the order of $263 million.

Further subscriptions might well have been forthcoming but due regard

had to be given to the indicative amount of $250 million envisaged for

possible subscriptions to this stock as announced on 29 April.

. The April 1982 stock will remain on issue until further notice and the

Reserve Bank, in line with established practice, will continue to trade

from its portfolio.

CANBERRA ACT