Glanbia Co-op announced this Thursday that it had raised a quarter of a billion euros from institutional investors through exchangeable bonds backed by a portion of its shareholding in the global Kilkenny-headquartered food giant Glanbia PLC. The farmer-owned co-op intends to use the debt issue to part-fund the acquisition of the 40 per cent stake it does not yet own in Glanbia Ireland, the domestic dairy and agribusiness division and the largest buyer of Irish milk and grain. The co-op’s members voted in favour of the acquisition last month and the deal, expected to be approved by other PLC shareholders…

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