If things pan out for Synlait, the wait will be worth it

(Image: Supplied)

Thu, 30 Mar 2023

Investors are clearly impatient with Synlait Milk but is it really that bad? Yes, a two-year recovery is now a three-year recovery, but it’s still a recovery. There are definite signs of discomfort. The stock has fallen 14.6% this week alone – despite the well-signalled dismal result. It last traded at $2.05. The $180 million five-year 2024 bonds, which have a face value of $1.00, are now yielding 9.35% with a coupon of 3.83%. The bond yield means those bonds are changing hand at 91.5 cents on the dollar. It&rsqu...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Opinion

Peter Griffin: DeepSeek’s implications becoming clearer

The best way to stay ahead in the AI arms race is to collaborate and share.

Peter Griffin 5:00am

Primary Sector

Meet NZ’s top ‘fish cop’ Steve Ham

Protecting NZ’s fisheries resources is his life’s work.

Jem Traylen 5:00am

Technology Free Business of Tech

From Christchurch to 100 million global users

Fully self-funded, Lumin has found success by being the go-to online app for pdf files.

Peter Griffin and Ben Moore 5:00am

From Christchurch to 100 million global users

Sponsored

Shining bright: Why gold matters today

The “great wealth store” remains a smart portfolio choice in 2025.

Smart

Sponsored

Why Kiwis are embracing Bitcoin ETFs

The once hard-to-access investment option is becoming mainstream.

Smart

More Primary Sector

Primary Sector

Meet NZ’s top ‘fish cop’ Steve Ham

Protecting NZ’s fisheries resources is his life’s work.

Jem Traylen 5:00am

Primary Sector

Zhiqiang Li takes helm as acting CEO of Westland Milk Products

Zhiqiang Li has taken the helm as acting chief executive of Westland Milk Products, effective today.The move follows the resignation of former CEO Richard Wyeth.Li will continue as executive director of Yili Group in Australia and New Zealand.Li said Wyeth joined the company four...

Rebecca Howard 31 Jan 2025