Debt refinance deal fails to ignite Aryzta share price

Cuisine de France owner Aryzta saw its share price dip yesterday despite it successfully launching its debt restructuring round at an attractive yield.

The Irish-Swiss baked goods group started the programme by issuing €386m worth of fixed and floating rate debt, at an attractive initial yield of 1.65%.

“This is part of a larger refinancing schedule, to be completed by the group over the course of fiscal year 2017. Following [yesterday’s] announcement, Aryzta remains on track to meet guidance,” said Davy Stockbrokers’ Jack Gorman.