DEAL: Fonterra’s multi-currency loan from Bank of China

Author: Amélie Labbé | Published: 24 Jan 2017

Fonterra’s RMB1.5 billion ($218.1 million) multi-currency debt facility, the first such deal in New Zealand, has paved the way for other local companies looking to borrow money directly from Chinese banks.

Fonterra is currently investing to expand its footprint in China

The dairy cooperative expanded into China - now its largest export market - a few years ago but was keen to complement this footprint with local funding arrangements.

It sees the country’s debt capital markets as a key part of that strategy, according to director of capital markets Simon Till.