China's Global Dairy puts off renminbi-denominated notes offering

By Marisa Wong

Madison, Wis., April 14 - Global Dairy Holdings Ltd.'s board of directors has decided to postpone the company's previously announced proposed renminbi-denominated notes issue, according to a company news release.

The board said that the current interest rate and tenor for debt issues are unattractive and that there are a number of competing note issues in the market.

The board also said that the company has sufficient working capital and has no urgent need to raise funds through an offering of notes.

Global Dairy is a milk and milk products manufacturer and marketer based in Hong Kong.

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