diff --git a/core/spring-cloud-stream/src/main/java/org/springframework/cloud/stream/binder/DefaultBinderFactory.java b/core/spring-cloud-stream/src/main/java/org/springframework/cloud/stream/binder/DefaultBinderFactory.java
index 0b8f08bda..99d82a376 100644
--- a/core/spring-cloud-stream/src/main/java/org/springframework/cloud/stream/binder/DefaultBinderFactory.java
+++ b/core/spring-cloud-stream/src/main/java/org/springframework/cloud/stream/binder/DefaultBinderFactory.java
@@ -494,10 +494,10 @@ public void onApplicationEvent(ApplicationEvent event) {
 		}
 
 		if (refresh) {
-			binderProducingContext.refresh();
 			if (!useApplicationContextAsParent || "integration".equals(binderType.getDefaultName())) {
 				this.propagateSharedBeans(binderProducingContext, (GenericApplicationContext) this.context);
 			}
+			binderProducingContext.refresh();
 		}
 
 		return binderProducingContext;