Zurich / CH. (aag) Aryzta AG announces the completion of the issuance of a 400 million CHF Perpetual Callable Subordinated Instrument (‘Hybrid Instrument’). On 01 October 2010, Aryzta announced the successful issuance of a 325 million CHF Hybrid Instrument. The issue size of the Hybrid Instrument has been increased by a further 75 million CHF under the same terms bringing the total issuance to 400 million CHF. The transaction is completed. The proceeds from the issue will be used as principal financing for Aryzta´s acquisition of the remaining 50 percent share of the Maidstone Bakery joint venture held by Tim Hortons (THI) as announced in August 2010. The acquisition of Maidstone Bakeries is now closed. The Hybrid Instrument offers investors a coupon of five percent and is undated with an initial call date by Aryzta after four years. 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.
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