Synlait Milk (ASX:SM1, NZE:SML) obtained two waivers in relation to its syndicated loan facilities, as external challenges continue to strain the company's financial performance, according to a Tuesday filing with the New Zealand bourse.
The bank lenders have agreed to waive both the quarterly minimum earnings before interest, taxes, depreciation and amortization event-of-review threshold and the interest cover ratio requirement for the period ended April 30, the filing added.
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