Fonterra Bonds Attract AA- Fitch Rating

Ratings agency Fitch Ratings has assigned a rating of AA- for the bonds issue from Fonterra’s Australian subsidiary.

Fonterra announced earlier this week it successfully raised AU$300 million (NZ$388.3 million) through its first ever issue of corporate bonds in Australia.

The bonds are for a five year term, maturing in July 2016. They were priced at a spread of 100 basis points over the Australian five-year swap rate.