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Synlait in search of money

Synlait is currently in talks with existing and new lenders to refinance its senior syndicated loans before the deadline of 30 June. One of the conditions imposed by the new lenders for the senior loans is that the NZ$130 million shareholder loan granted by Bright Dairy in July 2024 must be replaced by a new loan of the same amount. The loan from Bright Dairy in July 2024 increased the company’s stake in Synlait to 65%. The new loan is due to come into effect on 30 June. This announcement followed Synlait reporting a net loss after tax of NZ$12 million for the period January to April.

 

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