"Our" business?
OPINION: One particular bone the Hound has been gnawing on for years now is how the chattering classes want it both ways when it comes to the success of NZ's dairy industry.
Fonterra is is offering up to $150 million of senior fixed rate bonds to institutional investors and to New Zealand retail investors.
The offer opened with an indicative margin of 1.45 to 1.60% per annum, Fonterra said in a statement to NZX.
The bonds are expected to mature on March 7, 2023. An announcement of the actual margin and the interest rate on the bonds will be made following the bookbuild process, expected to be on February 26, 2016.
The bonds are expected to be quoted on the NZX Debt Market and are expected to be assigned a long term credit rating of A- by Standard and Poor's and A by Fitch.
There is no public pool for the offer, with 100% of the bonds reserved for institutional investors, clients of the lead manager, the co-manager and primary market participants (eg. broking firms accredited by NZX to participate in NZX markets).
Meanwhile Fonterra has also announced it has finalised the sale of its Australian yoghurt and dairy desserts business to Parmalat Australia Pty Ltd.
All conditions and regulatory requirements have been met.
On December 16, 2015, Fonterra announced the divestment of its Australian yoghurt and dairy desserts business, which includes manufacturing sites at Tamar Valley and Echuca as well as its Australian yoghurt and dairy dessert brands, as part of a comprehensive plan to return the cooperative's Australian business to strong profitability.
Alliance has announced a series of capital raise roadshow event, starting on 29 September in Tuatapere, Southland.
State farmer Pāmu (Landcorp) has announced a new equity partnership in an effort to support pathways to farm ownership for livestock farm operators.
Following a recent overweight incursion that saw a Mid-Canterbury contractor cop a $12,150 fine, the rural contracting industry is calling time on what they consider to be outdated and unworkable regulations regarding weight and dimensions that they say are impeding their businesses.
Trade Minister Todd McClay says his officials plan to meet their US counterparts every month from now on to better understand how the 15% tariff issue there will play out, and try and get some certainty there for our exporters about the future.
Brett Wotton, an Eastern Bay of Plenty kiwifruit grower and harvest contractor, has won the 2025 Kiwifruit Innovation Award for his work to support lifting fruit quality across the industry.
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