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Commonwealth Deutsche Mark private placement borrowing



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Mr PRESS NO. 124 TREASURER release E&8BAEGĀ© IMMEDIATE RELEASE STATEMENT BY THE TREASURER, THE HON JOHN HOWARD, MP

COMMONWEALTH DEUTSCHE MARK PRIVATE PLACEMENT BORROWING

The Commonwealth yesterday completed negotiations with Deutsche Bank for

a DM200 million (approx $A96 million) private placement on the German

capital market. This borrowing which is a re-financing of a

DM200 million Commonwealth borrowing maturing on 1 Oct 1980 was

foreshadowed in a press statement of 2 September.

The loan is for a term of 7 years and carries an interest rate of

8.25 per cent per annum.

The terms obtained by the Commonwealth are regarded as satisfactory and

in keeping with the high credit status that the Commonwealth holds in

the market.

The loan agreement is scheduled to be signed in Frankfurt on

25 September by the Ambassador to the Federal Republic of Germany, His

Excellency Mr H.M. Loveday, MBE on behalf of the Commonwealth.

CANBERRA ACT

18 Sep 1980