Banking amendment and waiver documentation signed

Synlait Milk Limited (Synlait) confirms that it has agreed and entered into documentation with its bank lenders to implement the amendments and waivers to its banking facilities as signalled in the Synlait notice of meeting dated 25 June 2024.

As previously communicated, Synlait requested waivers for its leverage ratios and interest coverage ratio for 31 July 2024 and a deferral of the maturity/limit step-downs for June and July 2024, until such time that Synlait’s planned equity raise is completed (see the notice of meeting for further details).

The approval is subject to the addition of a covenant to achieve a minimum adjusted EBITDA for FY24 of $45 million.

For more information contact:

Hannah Lynch
Head of Strategy & Corporate Affairs
P: +64 21 252 8990
E: [email protected]

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Announcement PDF