Delivery Hero Announces Strategic Financing to Enhance Capital Structure

Delivery Hero SE, a leading global local delivery platform, has initiated a financing transaction aimed at refining and augmenting its capital structure. The company plans to optimize its existing EUR 1.1 billion term facilities and intends to secure additional term facilities totaling roughly EUR 500 million. The funds are earmarked primarily for the repurchase of selected outstanding convertible bonds and other corporate purposes. This strategic move is set to extend the maturity of its current term facilities from August 2027 to December 2029 while reducing the cost of debt.

CEO Niklas Östberg highlighted the transaction as evidence of Delivery Hero's operational and financial successes, stating it aligns with their goal of achieving positive Free Cash Flow in 2024. The company anticipates using at least EUR 300 million from the new facilities to buy back convertible bonds due in 2025 and 2026. CFO Emmanuel Thomassin emphasized leveraging market conditions and lender interest to improve their financial leverage further.

Following years of diversified funding efforts, including multiple convertible bonds and establishing a revolving credit facility, this transaction reinforces Delivery Hero's strategic financial management. The company also confirmed its FY 2024 financial guidance, projecting continued growth and a positive cash flow outlook.