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Proposed public bond issue in Germany



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TREASURER

PRESS RELEASE NO. 84 ·

EMBARGO F0R it^EDIATE RELEASE

STATEMENT BY THE TREASURER, THE HON JOHN HOWARD, MP

PROPOSED PUBLIC BOND ISSUE IN GERMANY

The Treasurer, the Hon John Howard, MP, today announced that, as

foreshadowed in a statement he made on 15 August, the Commonwealth had

now commenced negotiations with.the Deutsche Bank for a 10 year public ·

bond issue on the German capital market.

The proposed issue for an amount of DM200 million ($A86 million) is ·" ' . ■ r .

expected to carry a coupon rate of 6 per cent. The issue will be

managed by the Deutsche Bank as lead underwriter.

■ ■ . - - V

The Treasurer recalled that the Commonwealth's previous public bond

issue in the German market was for DM250 million in October last year.

Mr Howard said that the borrowing was in accord with the Government's

on-going policy of undertaking further overseas borrowings from time to

time to supplement Australia's international reserves. .

CANBERRA ACT 25 Aug 1978