Investor interest in Fonterra bonds has been such that there will be no public pool.
Interest from the New Zealand Stock Exchange and institutional investors has seen a 267% oversubscription on the original $300 million retail bond offer, with firm allocations worth $800 million.
The company said as a result there would be no public offering of the senior unsecured bonds which were to open on Monday.
The six-year bonds carried a minimum coupon of 7.75% and would be used by the dairy company for working capital.
"We've had a great response from the New Zealand investor base which reflects the confidence people have in Fonterra and our business," chief executive Andrew Ferrier said.
The bonds carried credit ratings of AA-minus from Fitch Ratings and A-plus from Standard and Poors.
An application has been made to the New Zealand Stock Exchange to list the bonds.
