Synlait Milk Completes Equity Raise and Bond Redemption

Synlait Milk Ltd. (AU:SM1) has released an update.

Synlait Milk Ltd. has successfully completed a significant equity raise of $217.8 million and refinanced its bank facilities, strengthening its financial position and paving the way for a business recovery with a focus on profitability. In conjunction with these developments, a change of control event has been triggered for Synlait’s SML010 bonds, granting bondholders an early redemption right. Bondholders can opt for early redemption at an expected price of $1.00 per bond, or continue trading after a temporary suspension, with the potential impact of reduced liquidity due to a lower number of bonds in circulation.

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