Glanbia Co-op to set up 'volatility fund' for farmers
Move to be financed by five-year bond
Glanbia's largest shareholder, the Glanbia Co-operative Society, has announced plans to issue a five-year exchangeable bond against the shares in Glanbia which it owns.
The nutrition group told the stock market this morning that the total number of ordinary shares in issue would not change as a result of the bond.
The Co-op will recover the funds when milk and grain prices exceed a higher price trigger. The remaining proceeds will be for general business...
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