Delivery Hero Launches Convertible Bond Purchase
By Helena Smolak
Delivery Hero launched a convertible bond purchase, inviting current bondholders to submit offers to sell outstanding bonds, as it increased its buyback amount to reduce debt.
The German food delivery company said late Monday that it invited its holders to tender any and all of the outstanding convertible bonds due 2025, totaling EUR500 million ($543.6 million), and up to EUR100 million of the outstanding convertible bonds due 2026 into cash.
In addition, the company intends to buy back EUR600 million worth of outstanding convertible bonds from at least EUR300 million announced previously.
The repurchase price per 2025 bond tendered is 94.75% of the principal amount and per 2026 bond at least 89%, it said. The Company will also pay interest accrued on the purchased bonds.
The repurchase invitations started Monday and ends on Mar. 20.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
March 19, 2024 02:53 ET (06:53 GMT)
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