Arla Foods, a global dairy products and condiments producer based in Denmark, has issued five-year Skr bonds guaranteed by Arla Foods amba, to raise Skr1bn ($120.34m).

Due 2021, the bonds will be issued under the company’s €750m ($780.34m) European Medium Term Note (EMTN) programme, and are split into two tranches.

"Teja Dairy owns a dairy plant with a processing capacity of 20,000l of milk a day."

Half of them (Skr500m) will bear an interest rate of 1.875% a year, payable annually, while the other half will bear a floating rate of 1.70%.

The lead managers for the transaction, which is expected to be completed by end of 31 May 2016, are Danske Bank A/S and Nordea Bank.

Heritage Foods Limited, a dairy and food producer based in India, is planning to acqure the assets of Teja Dairy, a milk and dairy products producer also based in India, for a purchase consideration of Rs6m ($0.08m).

Teja Dairy owns a dairy plant with a processing capacity of 20,000l of milk a day.