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Government of Canada offers conversion of Victory Bonds to new 4 1 2 percent 25 year bonds
Honourable Donald M Fleming announces the Canada Conversion Loan of 1958. It will replace unmatured 3 percent Victory Bonds with new 4 1 2 percent 25 year bonds or other shorter term options. The plan restructures over 40 percent of the national debt and aims to raise investor income while lowering government financing in 1959 through 1966. About 6.416 billion dollars of unmatured Victory Bonds may convert.
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