Delivery Hero Embarks on Major Financing Initiative to Optimize Debt and Buy Back Convertible Bonds

Delivery Hero SE, a prominent figure in the global food delivery market, has launched an ambitious financing transaction aimed at improving its financial leverage and repurchasing selected convertible bonds. This strategic move involves amending and extending its existing USD 813 million and EUR 300 million term facilities, in addition to raising new add-on term facilities amounting to roughly EUR 500 million. The initiative is geared towards favorably altering the terms of its current debts, extending their maturity until December 2029, and reducing overall debt costs.

The company plans to allocate a minimum of EUR 300 million from the add-on facilities to repurchase selected outstanding convertible bonds. The decision to accept repurchase offers will be made at the company's discretion, with further announcements expected in the near future. This endeavor underscores Delivery Hero's proactive approach in managing its financial obligations and enhancing shareholder value through strategic financial maneuvers.

Moreover, Delivery Hero reaffirmed its financial outlook for FY 2024, maintaining its previous guidance issued in the Q4 2023 Trading Update. The group anticipates GMV growth of 7-9% YoY, total segment revenue expansion of 15-17% YoY, an adjusted EBITDA between EUR 725-775 million, and a positive free cash flow. These projections reflect the company's confidence in its operational performance and strategic initiatives moving forward.