InvestSMART

Synlait Milk Limited (ASX:SM1)

ALERT: Price-sensitive ASX Announcement for SM1
Current share price for SM1 : $0.295 -0.005 (-1.67%)+
Announcement
Release
29 Jun 2026 6:09PM
Price at Release
$0.300
Full Release
download
Summary
Synlait Milk Limited (Synlait) has finalized its refinancing arrangements and adjusted its financial balance date. The company entered into agreements totaling NZ$320 million with a new banking syndicate comprising multiple international banks. These arrangements include various secured facilities aimed at supporting Synlait’s financial needs until mid-2027. Synlait also entered a replacement shareholder loan agreement with Bright Dairy International Investment Limited for $130 million. Concurrently, Synlait’s board resolved to change the company's financial reporting balance date from 31 July to 31 December, aligning with that of its major shareholder, Bright Dairy & Food Co., Ltd. The next reporting period will transition over five months to accommodate this change, after which financial periods will end on 31 December each year.
Key Points
  • Synlait finalised NZ$320 million refinancing agreements with a new banking syndicate.
  • New facilities include a secured overdraft, working capital, and term loan facilities.
  • Replacement $130 million shareholder loan agreement with Bright Dairy International.
  • Change in financial balance date from 31 July to 31 December for alignment with Bright Dairy.
  • Next reporting period will be an interim five-month period ending 31 December 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.