Tuesday, 27. October 2020
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Aryzta AG: Amendment to Financial Covenants

Zurich / CH. (aag) Swiss-Irish Aryzta AG has received the requisite consent of the majority of its lenders for an amendment to its financial covenants. Formal documentation effecting the amendment is expected to be executed shortly. The amendment shall apply to the two covenant tests relating to the interim Financial Statements as of January 2021 and to the annual Financial Statements of July 2021. In each case, the Net Debt: Ebitda Coverage Ratio shall be lower or equal to 6.0x and the Net Interest Coverage Ratio shall be greater than 1.0x, providing Aryzta with increased headroom in the coming year to accommodate the continuing uncertainty around and the impact of the pandemic – the company says in its short release.