Fonterra raises $230 mln in dim sum bond to fund Beingmate investment

Tue, 16 Jun 2015

By Suze Metherell June 16 (BusinessDesk) - Fonterra Cooperative Group, the world's largest dairy exporter, sold its third dim sum bond, raising 1 billion Chinese yuan, or $230 million, with the proceeds helping fund the stake in Beingmate Baby & Child Food. The five-year bond, which is priced in yuan but issued outside of China to tap international investors, will carry a 4 percent coupon, the Auckland-based company said. The cash will be partially used to fund Fonterra's 20 percent stake in the Chinese infant formula maker, worth $615 m...

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