Fonterra issues 'dim sum' bond

TIM HUNTER
Last updated 17:30 21/01/2014

Relevant offers

Agribusiness

Third stock crash sparks warning Green farming solutions in Southland Farmers urged to have their say over new water rules Continued water contamination 'not tenable' Workers with experience in high demand Semen collecting is tricky and dangerous No appeals against oyster farm plan Farmers make energy and water savings Letting go is hard - but necessary to grow Pig farmers tighten security for activists

Fonterra has borrowed $250 million through a bond issue denominated in Chinese currency to help finance its operations in China.

The 1.25 billion renminbi "dim sum" bond issue has a term of five years. It is the second time Fonterra has tapped the debt market with a dim sum bond after a similar issue in 2011.

Fonterra president greater China and India, Kelvin Wickham, said the dairy co-operative was aiming to grow volume and value, particularly in consumer brands, in China.

Fonterra introduced the Anchor milk brand and an Anmum branded infant formula product to China last year, he said.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content