NZ market hopeful Fonterra's NZ$800 million success will not saturate demand
- Friday, 06 February 2009
The vibrant New Zealand corporate bond market hit a new peak on February 5 when Fonterra (A+/AA-) announced a firm allocation of NZ$800 million (US$412.88 million) in its 2015 domestic transaction. The very success of the trade – the largest corporate deal in New Zealand history – has raised questions of its own, with market participants expressing concern about secondary liquidity and the impact of such a large deal on ongoing primary demand.
