Wesfarmers has raised $500 million through the issue of fixed-rate medium-term notes.

The Coles supermarket chain owner said the note issue continued its strategy of pre-funding its upcoming debt maturities, and lengthening its debt maturities.

It was launched late on Monday to take advantage of the more positive market sentiment in recent days, Wesfarmers’ finance director Terry Bowen said in a statement.

The notes carried an interest cost of 6.17 per cent per year, and settlement of the transaction is expected on November 4.