Fonterra and Warehouse Group selling more bonds

Philip Bayley
In New Zealand there came news of two more retail bond offerings by real corporate issuers.

Fonterra Co-operative Group (rated A+) is proposing to issue NZ$100 million of bonds with oversubscriptions up to NZ$50 million being acceptable, and Insto reported that Warehouse Group (not rated) is considering a NZ$100 million, five-year, retail bond issue. If it proceeds the issue will open in late March.

Also, Nordic Investment Bank raised NZ$150 million for four years at 25 basis points over swap, on Friday.