Ann: Synlait Milk Limited joins NZX debt market, page-3

We just have to all remember: they sell milk.
Don't read the announcements for the company to remind you, because they are all focused on other things. Saving the environment, cuddling up with politicians, growing forests, taking out big loans.

Where's the cow herd run off to, I can't see them anymore.

On the flipside, they have done IMO such a rubbish job at marketing the core business and improving sales margins that shares really are well priced based on historical EBITDA ratio comparisons between SML (the supplier) and A2M (the uptake buyer and distributor).