Swiss bakery business Aryzta AG (ARZTF.PK, ARZTY.PK) on Thursday announced a 100 million Swiss Francs increase in the Perpetual Callable Subordinated Instrument or Hybrid Instrument launched on March 19. This brings the new total outstanding amount to 400 million francs.
The company said the proceeds from the issue will be used to refinance existing debt and/ or for general corporate purposes.
The Hybrid Instrument offers investors a coupon of 4 percent and is undated with an initial call date by ARYZTA after five years.
Aryzta, the majority shareholder in Irish agri-nutrition products manufacturer Origin Enterprises Plc (OGN.L), noted that the successful hybrid capital raising was taken up by a broad Swiss retail investor base. UBS, Credit Suisse and Zürcher Kantonalbank acted as joint bookrunners on this transaction.
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