Yield on Synlait bonds tops 11%
Balance sheet concerns play out in price of listed bonds.
Synlait’s Dunsandel plant makes infant formula for main customer A2 Milk.
Investor concerns about milk processor Synlait’s balance sheet are feeding into the price of its listed bonds, whose yield has risen to 11.2% since a trading halt was lifted last week.
The $180 million of bonds were issued in 2019 and mature in December 2024 but their market value has fallen
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