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

Bell Potter boosts Santana target price 53.5%
Primary Sector

Bell Potter boosts Santana target price 53.5%

Aussie brokers increasingly like the look of a low-cost, high yield Otago gold play.

Pattrick Smellie 19 Apr 2024
Anna Palairet appointed Fonterra's chief operating officer
Primary Sector

Anna Palairet appointed Fonterra's chief operating officer

Having acted in the role since June last year, she replaces Fraser Whineray.

Riley Kennedy 19 Apr 2024