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
Corporate & Financial Communications
+49 151 54 66 00 56
INVESTOR RELATIONS CONTACT
Head of Investor Relations
+49 160 30 13 435
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.