Fonterra raises $A300m in Australian bond issue

Fonterra raised $A300 million ($388m) through its first issue of corporate bonds in Australia.

General manager treasury Stephan Deschamps said the bond proceeds would be used to refinance bank debt in Australia.

"Fonterra has a large business in Australia and it makes sense for us to seek a greater alignment between our funding activities and our asset base," he said.

Fonterra had not participated in the Australian dollar corporate bond market previously, and was pleased with the strong demand from institutional investors.

The Australian dollar bond issue came a fortnight after Fonterra entered the Chinese currency bond market, raising 300 million yuan (about $56m) through an issue of denominated bonds.

Strong interest in both the bond issues demonstrated how Fonterra's business profile and financial strength were well regarded by international investors, Deschamps said.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER