5 Jul 2011

Fonterra issue corporate bonds in Australia

11:33 am on 5 July 2011

Fonterra has raised $388 million in Australia which will be used to repay bank debt across the Tasman.

The five-year term bonds are Fonterra's first issue of corporate bonds in Australia.

The dairy co-operative says there has been strong demand from institutional investors.

Last month, Fonterra raised $56 million worth of Chinese renminbi denominated bonds to diversify its funding and pay for expansion in China, particularly Shanghai.