RESEND: Timely Fonterra sale of 6-year bonds draws oversubscriptions

Thu, 16 Apr 2015

(Amends sixth paragraph to show Harbour Asset didn't buy bonds) April 16 (BusinessDesk) - Fonterra Cooperative Group attracted $100 million of oversubscriptions for its 2021 bonds in a sale that benefitted from the maturity of $800 million of existing debt at the world's biggest dairy exporter and a large government bond maturity that pushed out the duration of a key benchmark index. Fonterra sold a total $350 million of the bonds which pay annual interest of 4.33 percent, or 75 basis points over the comparable swap rate. The debt will be...

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