Synlait Milk's bond catches some market interest

Synlait's $180 million five-year 2024 bonds are currently yielding 7.80%. (Image: Synlait)

Thu, 06 Oct 2022

Synlait Milk’s subordinated bond yield has dipped back below 8% as demand lifts. “It’s well bid," said Brad Gordon, director and senior investment advisor at Hobson Wealth Partners. "People want to buy it, but there isn’t a lot of selling interest."The $180 million five-year 2024 bonds, which have a face value of $1.00, are currently yielding 7.80% with a coupon of 3.83%. A week ago, they were at 8.25%. Last week, the company said its net profit was $38.5 million in the 12 months to July 31,...

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