Synlait's bankers will 'extend and pretend'

Synlait's bankers will 'extend and pretend'
Synlait's shareholders are said to favour selling assets rather than an equity raise. (Image: NZME)
Rebecca Stevenson
Debt-laden Synlait’s banks will be happy to extend and pretend to keep loan books looking healthy, a fund manager says. The New Zealand stock exchange (NZX)-listed milk company has a $130 million debt repayment due at the end of March and $180m of bonds falling due in December.The milk manufacturer announced it would sell its Dairyworks cheese brand to bring in cash, but that hasn’t eventuated yet. Analysts say the company will need to sell Dairyworks, raise capital from shareholders or potentially sell something else to m...

More Primary Sector

Alliance Group on path back to profit
Primary Sector

Alliance Group on path back to profit

It now needs north of $200 million of capital to restore its balance sheet.

Riley Kennedy 23 Apr 2025
Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025
TTR files fast-track application to mine Taranaki sand
Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025