Delivery Hero SE Proposes Tender Offer for Convertible Bonds

Berlin-based Delivery Hero SE has announced a tender offer for its convertible bonds due in 2025, 2026, and 2027. The company seeks to repurchase approximately EUR 1,000 million in principal. Bondholders are invited to submit offers for the 2025 and 2026 bonds entirely, and up to EUR 350 million for the 2027 bonds.

This tender offer has the authorization of the Management and Supervisory Boards following resolutions from February 13. The repurchase prices are set at 99.375% for the 2025 bonds, 97.500% for the 2026 bonds, and a minimum of 94.500% for the 2027 bonds. The repurchase process will close on February 18, 2025, with settlements expected late February and early March.

The offer is not extended in the United States or to jurisdictions where it would be considered unlawful. Investors are encouraged to consult professional advisors regarding the suitability of this offer.