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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.

Barclays Bank Ireland PLC, HSBC Continental Europe S.A., Germany, and J.P. Morgan SE act as Joint Dealer Managers on the repurchase of the outstanding convertible bonds.


ABOUT DELIVERY HERO

Delivery Hero is the world’s leading local delivery platform, operating its service in over 70 countries across Asia, Europe, Latin America, the Middle East and Africa. The Company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 20 to 30 minutes. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index. For more information, please visit www.deliveryhero.com

INVESTOR RELATIONS CONTACT

Christoph Bast
Head of Investor Relations
ir@deliveryhero.com
 

Important notice

This announcement may not be published, distributed or transmitted, directly or indirectly, in the United States of America (including its territories and possessions), Canada, Japan or Australia or any other jurisdiction where such announcement could be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons who are in possession of this document or other information referred to herein should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute an offer of, or a solicitation of an offer to purchase, securities of Delivery Hero SE or of any of its subsidiaries in the United States of America, Germany or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, an offer in any jurisdiction. The securities, to which the repurchase invitations refer, will not be and have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act.

In the United Kingdom, this announcement is only directed at persons who are “qualified investors” within the meaning of Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 who are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this information or any of its contents.

In member states of the European Economic Area the placement of securities described in this announcement (the "Placement") was directed exclusively at persons who are "qualified investors" within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (Prospectus Regulation).

No action has been taken that would permit an offering or an acquisition of the securities or a distribution of this announcement in any jurisdiction where such action would be unlawful. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

This announcement does not constitute a recommendation concerning the Placement. Investors should consult a professional advisor as to the suitability of the Placement for the person concerned.

This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero SE and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.