EQS-News

Delivery Hero repurchases convertible bonds due in 2025 and 2026

EQS-News: Delivery Hero SE / Key word(s): Bond Delivery Hero repurchases convertible bonds due in 2025 and 2026 20.03.2024 / 19:47 CET/CEST The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION, PUBLICATION OR FORWARDING, EITHER DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS PUBLICATION.

Delivery Hero repurchases convertible bonds due in 2025 and 2026

 
Berlin, 20 March 2024 – Delivery Hero SE ("Delivery Hero" or the "Company"), the world’s leading local delivery platform, announces the results of its offer to buy back portions of its outstanding convertible bonds due 2025 and 2026. Delivery Hero has decided to repurchase EUR 409.2 million in aggregate principal amount of the convertible bonds due in 2025, meaning EUR 90.8 million in aggregate principal amount will remain outstanding. The Company has also decided to repurchase EUR 100.0 million in aggregate principal amount of the convertible bonds due in 2026, meaning EUR 650.0 million in aggregate principal amount will remain outstanding. To fund the settlements of these buybacks, Delivery Hero will use proceeds from the recently completed placements of new term facilities in an aggregate amount of approximately EUR 740.0 million equivalent, as indicated on 18 March 2024. The remaining amount will be used for general corporate purposes, which may include additional buybacks of outstanding convertible bonds in the future. The Company will cancel the repurchased convertible bonds due 2025 and 2026.

The prices per EUR 100,000 nominal amount are EUR 94,750 for the convertible bonds due 2025, and EUR 89,250 for the convertible bonds due 2026. In addition, the Company will pay interest accrued on the purchased convertible bonds. The period for such payment shall commence from and including the last interest payment date until (but excluding) the buyback settlement date, which is expected to occur on or around 26 March 2024. The interests accrued per bond are EUR 170.67 for the convertible bonds due 2025, and EUR 404.37 per bond for the convertible bonds due 2026, in each case if settled on 26 March 2024.