Synlait extends $79M loan from top shareholder Bright Dairy
Debt-strapped firm gets relief ahead of September refinancing
13 June 2025
1 minute read
By: New Zealand's Synlait Milk said on Friday it has extended the maturity of a NZ$130 million ($78.88 million) loan from top shareholder China's Bright Dairy, which the infant formula maker had taken almost a year ago, reported Reuters.
The loan, which was earlier due next month, is now expected to mature on July 12, 2026. It was provided by the Chinese dairy firm to help Synlait out of its debt crisis.
Synlait's current refinancing facilities are due to be renewed in September end, the company said in the exchange filing on Friday.
Bright Dairy Holding, a unit of Chinese dairy producer Bright Dairy & Food, is currently Synlait's largest shareholder with a 65.25% stake, according to data compiled by LSEG.
($1 = 1.6480 New Zealand dollars)
