Fonterra raises 1.25 bln renminbi in second ‘dim sum’ bond

Tue, 21 Jan 2014

By Paul McBeth Jan. 21 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, has raised 1.25 billion renminbi in its second Chinese currency denominated bond, which it will use to repay debt and expand operations in the world’s second-biggest economy. The five-year bonds pay annual interest of 3.6 percent, and were bought by global investors “with strong support from Asia,” chief financial officer Luke Paravicini said in an emailed statement to BusinessDesk. Fonterra wants to diversify its funding strategy with a...

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