Fonterra to issue renminbi bonds

A Fonterra tanker. File photo / Supplied

Fonterra is seeking to raise 300 million Chinese yuan ($57 million) through a bond issue denominated in yuan deliverable in Hong Kong , marking the first time an Australasian corporate has tapped this market.

Fonterra general manager of treasury Stephan Deschamps said the decision to enter this bond market reflected the growing importance of China to Fonterra.