Delivery Hero successfully completes syndication of EUR 1.4 billion-equivalent debt financing
- Successful allocation and pricing of debut Term Loan B financing
- Further diversification of the capital structure through USD and EUR Term Loans and RCF
- Creation of a substantial additional liquidity buffer and financial flexibility
Berlin, 8 April 2022 – Delivery Hero SE (“Delivery Hero” or the “Company”), the world’s leading local delivery platform, announces the successful completion of the syndication of the USD 825 million term facility (“Dollar Term Facility”) and the EUR 300 million term facility (“Euro Term Facility” and, together with the Dollar Term Facility, the “Term Facilities”) that were launched earlier this week. The Dollar Term Facility bears interest at a rate of Term SOFR plus 5.75% p.a. and the Euro Term Facility bears interest at a rate of EURIBOR plus 5.75% p.a. On the back of strong lender interest, the syndication was accelerated and the interest margin rate tightened by 50–75 basis points from the original launch guidance. Concurrently with the signing of the Term Facilities, the Company expects to enter into a EUR 375 million revolving credit facility (“RCF”), which is expected to remain undrawn at closing.
We are pleased with the strong reception of our debut financing transaction in the U.S. debt markets. The U.S. loan market has a sophisticated understanding of high-growth technology businesses, and the substantial interest in this transaction is a testimony of the fundamental strength of our business and our track record. With this transaction, we have established a strong and diversified capital structure that provides us with further financial flexibility and ample liquidity buffers to deliver on our strategic priorities.
Niklas Östberg, CEO and Co-Founder of Delivery Hero
J.P. Morgan acted as Sole Physical Bookrunner on the Dollar Term Facility. J.P. Morgan, UniCredit, HSBC, and Barclays acted as Joint Bookrunners. Rothschild acted as financial advisor.
ABOUT DELIVERY HERO
Delivery Hero is the world’s leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North 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 10 to 15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com
MEDIA CONTACT
Lara Hesse
Corporate & Financial Communications
+49 151 54 66 00 56
moc.orehyrevilednull@sserp
INVESTOR RELATIONS CONTACT
Christoph Bast
Head of Investor Relations
+49 160 30 13 435
moc.orehyrevilednull@ri
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