According to David Hargreaves of www.interest.co.nz, the bonds are expected to be quoted on the NZX Debt Market (NZDX) from 8 March, and will probably mature on 7 March 2023.
The world’s largest dairy exporter has current bonds of $150m due to mature on 3 March this year and an additional $350m in bonds due to mature in October 2021.
The offer is expected to open with an indicative annual margin of between 1.45% and 1.60%.
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The bonds are expected to be assigned a long-term credit rating of A- by credit-rating agency, Standards and Poor, and A by Finch.
The offer will close on 26 February following the bookbuild process.
Simon Till, Fonterra’s director of capital markets, said “the lead managed by ANZ (Australia and New Zealand bank) with Deutsche Craig as co-manager, was being made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing debt securities”.
Till went on to say “interested investors should contact the lead manager, the co-manager, their broker or their financial adviser for details”.
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According to David Hargreaves of www.interest.co.nz, the bonds are expected to be quoted on the NZX Debt Market (NZDX) from 8 March, and will probably mature on 7 March 2023.
The world’s largest dairy exporter has current bonds of $150m due to mature on 3 March this year and an additional $350m in bonds due to mature in October 2021.
The offer is expected to open with an indicative annual margin of between 1.45% and 1.60%.
The bonds are expected to be assigned a long-term credit rating of A- by credit-rating agency, Standards and Poor, and A by Finch.
The offer will close on 26 February following the bookbuild process.
Simon Till, Fonterra’s director of capital markets, said “the lead managed by ANZ (Australia and New Zealand bank) with Deutsche Craig as co-manager, was being made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing debt securities”.
Till went on to say “interested investors should contact the lead manager, the co-manager, their broker or their financial adviser for details”.
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