China Historic Bonds

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1908 AFGL £20 BIC

1908 AFGL £20 BIC Image

CHB Ref: 1908/4½AFG/£20/BIC
Kuhlmann: 182

1908 - 5% (4½%) Anglo-French (Peking-Hankow Railway) Loan

Capital: £5,000,000
Denomination: £20
No Issued: 125,000
Serial From: 29,001 - 154,000
Arrangers: Banque de l'Iindo-Chine

Dimensions of the Bond:
380 x 280 mm

The loan was arranged as an equal floatation whereby £2,500,000 was floated by the Hongkong & Shanghai Banking Corporation in London at 98% and £2,500,000 by the Banque de l'Indo-Chine in Paris also at 98%. Each bank made a 4% commission on their respective elements of the loan. The interest was reduced after October 1923 from 5% to 4½ %. £4,000,000 of this loan was used to redeem the Peking-Hankow Railway Loan of 1899 and £1,000,000 was used for the establishment of industries. The Peking-Hankow Railway was opened to traffic in December 1905.

The loan was unconditionally guaranteed by the Imperial Chinese Government and was secured by an annual amount of Taels 2,350,000 of salt revenues and sundry taxes of the provinces of Che-kiang, Kiangsu, Hupeh and Chihli. Coupons were payable on 5th April and 5th October each year.

Your Price:$120.00
Weight:0.030 kg
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