New Zealand’s Synlait Milk 
SML said on Friday it has extended the maturity of a NZ$130 million ($78.88 million) loan from top shareholder China’s Bright Dairy, which the infant formula maker had taken almost a year ago.
The loan, which was earlier due next month, is now expected to mature on July 12, 2026. It was provided by the Chinese dairy firm to help Synlait out of its debt crisis.
Synlait’s current refinancing facilities are due to be renewed in September end, the company said in the exchange filing on Friday.
Bright Dairy Holding, a unit of Chinese dairy producer Bright Dairy & Food 
600597, is currently Synlait’s largest shareholder with a 65.25% stake, according to data compiled by LSEG.
($1 = 1.6480 New Zealand dollars)