Issuance of Perpetual Callable Subordinated Instrument
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ARYZTA AG / Issuance of Perpetual Callable Subordinated Instrument processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Announcement by ARYZTA AG regarding the issuance of a CHF 325 million Perpetual
Callable Subordinated Instrument ('Hybrid Instrument')
Zurich / Switzerland, 1 October 2010
ARYZTA AG (ARYZTA) announces that it has successfully raised hybrid capital of
CHF 325 million through the issuance of a Hybrid Instrument, which will qualify
as equity under International Financial Reporting Standards. The proceeds from
the issuance will be used as principal financing for ARYZTA's acquisition of the
remaining 50% share of the Maidstone Bakery joint venture held by Tim Hortons
Inc. as announced on 12 August 2010.
The Hybrid Instrument offers investors a coupon of 5% and is undated with an
initial call date by ARYZTA after four years. The settlement date of the Hybrid
Instrument is the 28 October 2010. Separately, ARYZTA has EUR 1.4bn debt
financing facilities* in place with an average maturity of 7.1 years and had a
net debt position of EUR 1.1bn as at 31 July 2010.
The successful hybrid capital raising was taken up by a broad Swiss retail
investor base. UBS and Credit Suisse acted as joint bookrunners on this
transaction.
Commenting on this capital raising, Owen Killian Chief Executive Officer of
ARYZTA said;
"This has been a first time for us to access the market for hybrid financing
instruments and we are very pleased with the strong demand from predominantly
Swiss investors. It enables us to fund the announced acquisition of the
remaining 50% in Maidstone Bakeries not yet owned by ARYZTA while at the same
time retaining a prudent capital structure."
*Debt financing facilities valued at current foreign exchange rates
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN
INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. THE OFFER
OF THE INSTRUMENT IS PROHIBITED OR RESTRICTED IN VARIOUS JURISDICTIONS INCLUDING
U.S.A., UNITED KINGDOM AND THE EUROPEAN ECONOMIC AREA.
Enquiries:
Hilliard Lombard
Head of Group Finance and Communications
ARYZTA AG
Tel: +41 (0) 44 583 4200
info(at)aryzta.com
Aloys Hirzel
Communications and Management Consulting
Hirzel. Neef. Schmid. Konsulenten
Tel: +41 (0) 43 344 42 42
aloys.hirzel(at)konsulenten.ch
Alex Money
Media and Investor Relations Advisors
Temple Bar Advisory
Tel: +44 (0) 20 7002 1080
aryzta(at)templebaradvisory.com
[HUG#1448162]
--- End of Message ---
ARYZTA AG
Talacker 41 Zurich Schweiz
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
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originality of the information contained therein.
Source: ARYZTA AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 01.10.2010 - 07:00 Uhr
Sprache: Deutsch
News-ID 43689
Anzahl Zeichen: 0
contact information:
Town:
Zurich
Kategorie:
Business News
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