Pengxin-owned Milk NZ breaches debt covenant, posts $7.6m loss
Chinese company blames low payout for breach, negotiates with ANZ.
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SCIENCE
Shanghai Pengxin-owned Milk New Zealand Holding has been operating under a waiver from the ANZ Bank after breaching a key covenant on its $94.8 million debt facility.
The company, which forms part of a wider group that acquired the Crafar dairy farms in 2012 and later 74% of Synlait Farms,
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Duncan Bridgeman
Tue, 19 Jan 2016
Tue, 19 Jan 2016
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Pengxin-owned Milk NZ breaches debt covenant, posts $7.6m loss
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