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Synlait Milk Limited (ASX:SM1)

ALERT: Price-sensitive ASX Announcement for SM1
Current share price for SM1 : $0.285 -0.06 (-17.39%)+
Announcement
Release
9 Jun 2026 7:30AM
Price at Release
$0.345
Full Release
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Summary
Synlait Milk Limited has provided updates regarding its refinancing efforts and financial performance. Synlait is in discussions with current and potential lenders to refinance its senior syndicated bank facilities due by 30 June 2026. As part of this process, a new shareholder loan from Bright Dairy International Investment Limited is proposed to replace the existing $130 million loan. This Replacement Bright Loan, totaling the same amount, is similar to the existing terms but with a two-year term and adjusted interest terms. The loan is expected to be finalized by the end of June 2026. In terms of trading, Synlait reported a net loss after tax of $12.0 million from January to April 2026, with net assets amounting to $720.8 million. This financial update reflects operational challenges and includes gains from asset sales. The full audited results will be available post financial year-end on 31 July 2026.
Key Points
  • Synlait is refinancing its senior syndicated bank facilities due by 30 June 2026.
  • A Replacement Bright Loan of $130 million is proposed, with a two-year term.
  • The Replacement Bright Loan maintains similar terms to the existing loan.
  • Synlait reported a net loss after tax of $12.0 million for January to April 2026.
  • Net assets were reported at $720.8 million.
  • Financial performance reflects operational challenges and asset sale gains.
  • Finalization of the Replacement Bright Loan expected by end of June 2026.
  • Full audited results to be reported after the financial year ending 31 July 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.