asked the Minister for Finance if he will state (a) the total cost of floating the £25,000,000 loan in October, 1953; (b) the total amount paid in commission to the banks; (c) the total amount paid in commission to stockbrokers; (d) the total cost of issuing the loan at 97 per cent. instead of at par; (e) the amount paid for advertising, and (f) any other charges.
Ceisteanna—Questions. Oral Answers. - Cost of Loan Flotation.
I supplied information about the underwriting commission and other expenses of the recent issue in reply to a question by Deputy Hession on 29th October, 1953. I am not sure of the purport of the Deputy's inquiry at (d) but it may give him the information he seeks if I say that the yield to final redemption in 1978 of a 4½ per cent. stock issued at £97 per cent. is £4 14s. 2d. per cent.
What is the amount involved in issuing it at 97 as against issuing it at par?
We had difficulty in knowing exactly what the Deputy meant by (d), the total cost of issuing it at 97 per cent. instead of at par. It is the difference per £100——
I know that.
I think the Deputy will be able to calculate it himself from that.
I asked a similar question in 1950 and I got the amount in figures. Why can I not get it in respect of 1953?
I think the Deputy has got a very good datum point from which to start his calculations.