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Opportunity comes knocking for new party leader
Brent Edwards
Sun, 16 Nov 2025
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Synlait takes on extra debt as manufacturing costs persist
Milk processor Synlait has increased its borrowing to cover a cashflow shortfall stemming from “manufacturing challenges” earlier in the year.
Synlait said although the problems had been largely resolved it was “experiencing cost impacts in FY26”.
In a statement to the NZX, Synlait said it had arranged a new $50 million revolving credit facility to run from November 14 to March 31 next year.
The company said it expected to significantly reduce debt once the $307m sale of its North Island assets settles, expected on April 1.
In September Synlait said it had finalised bank refinancing with new facilities totalling $350m. Its lenders are ANZ, China Construction Bank, Bank of China, Rabobank, Industrial & Commercial Bank of China, HSBC, Bank of Communications and Bank of East Asia.
Synlait said earnings thresholds that would trigger a review of its lending had been adjusted “to accommodate the revised earnings”. However, the company has provided no public guidance for its FY26 earnings.
Improved manufacturing data reinforces start of economic recovery
New Zealand’s manufacturing sector is showing signs of recovery after a noticeable rise in new orders.
The latest BNZ-BusinessNZ Performance of Manufacturing Index for October rose 1.3 points to 51.4, when compared with September. A reading above 50 indicates the sector is in expansion mode.
Four of the five sub-index values were in expansion territory last month, led by new orders at 54.9, the highest level of expansion since August 2022. Production, finished stocks, and deliveries were also above 50, while employment remained in contraction for six consecutive months.
The proportion of negative comments from manufacturers reduced to 54.1%, down from 60.2% in September.
Overall, manufacturers reported a lift in orders and improved demand, helped by seasonal activity, new customers and products, as well as signs of economic confidence returning.
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Brent Melville and Kate McVicar.
Fri, 07 Nov 2025
