Delivery Hero Refines Capital Structure with Successful Financing Transaction

Delivery Hero SE has announced the successful completion of a significant financing transaction aimed at optimizing its capital structure. This initiative involved amending and extending its existing term facilities, originally amounting to EUR 1.1 billion, fueled by robust lender interest. The company capitalized on this opportunity to raise an additional equivalent of EUR 500 million in term facilities. This move is part of a strategic plan to repurchase selected convertible bonds due in 2025 and 2026, with a portion of the funds earmarked for general corporate purposes, potentially including further bond buybacks.

In a strategic move to align its debt with operational cash flows, Delivery Hero intends to introduce approximately EUR 550 million equivalent of term facilities in Korean Won, substituting and expanding its existing EUR 300 million facility. This action not only diversifies its debt but also extends the maturity of its existing term facilities from August 2027 to December 2029, while securing a reduced interest rate.

The transaction underscores Delivery Hero’s adeptness in navigating the debt capital markets, signifying lender confidence in its revamped profitability and cash flow generation capabilities. Additionally, the engagement with a new lender base in Korea through the term facilities underscores the company's ongoing efforts to diversify its financing sources and align its debt portfolio more closely with its cash flow structure.