Fonterra Co-operative Group said today (16 December) that it is considering raising NZ$300m (US$168m) via an offer of senior retail bonds.

The New Zealand dairy giant said the offer is expected to open in early February.

Fonterra intends to use any money raised for "general business purposes", including working capital requirements.

The company has appointed ANZ National Bank Limited and BNZ Capital (a division of Bank of New Zealand) as joint lead managers for the offer.

"Further details of the offer will be made available once an Investment Statement is available prior to the offer launch," Fonterra said in an announcement to the New Zealand Stock Exchange.