Delivery Hero Repurchases Convertible Bonds
By Helena Smolak
Delivery Hero bought back some of its outstanding convertible bonds after it had announced a convertible bond purchase to reduce debt.
The German delivery platform said late Wednesday that it repurchased EUR409.2 million ($446.9 million) of the offered convertible bonds due in 2025 and EUR100 million maturing in 2026.
Delivery Hero said it would use funds from new term facilities totaling EUR740 million. The remaining amount will be allocated for corporate purposes, potentially including further repurchases of outstanding convertible bonds, the company said.
The company will cancel the repurchased convertible bonds due 2025 and 2026. The buyback settlement date is expected to occur on or around 26 Mar.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
March 21, 2024 02:31 ET (06:31 GMT)
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