Bright Dairy says the loan facility is one part of its wider support to see Synlait return to a much stronger financial and operating position. (file image)
Photo: 123rf

Synlait Milk has set the date for a special meeting of shareholders to approve a $130 million loan from its major shareholder, Bright Dairy.

The specialty dairy company needed the money to pay bank debt due next month.

It recommended shareholders accept the arrangement, given its limited options.

It had failed…