New Zealand’s Synlait Milk has forecast weaker earnings and flagged a review of its assets as the dairy giant races to raise more capital to repay debt this year.
The dual-listed group, backed by China’s Bright Foods, was granted more time to repay $NZ130 million ($119 million) due last Thursday. It now has until July 15. The company also secured $NZ30 million in short-term funding and has had some covenants relaxed.
Loading...
Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
