1️⃣ The big move 🚀
Delivery Hero, the global delivery titan, just pulled off a financial Houdini act, optimizing its capital structure with a fresh USD syndication. This bold move extends the maturity of its EUR 1.1 billion term facilities to December 2029 and slashes the interest rates. Imagine doing that with your mortgage! CFO Emmanuel Thomassin must feel like a wizard right now.
2️⃣ What's in the wallet? 💼
Not just content with one trick, the company conjured up an extra EUR 500 million in term facilities. The plan? To buy back convertible bonds due 2025 and 2026, and sprinkle the rest on corporate needs. And let's not forget the switcheroo to Korean Won, adding another layer of financial wizardry.
3️⃣ A nod from the magicians 🎩
The magic show drew a full house with banks like J.P. Morgan and HSBC leading the cheers. With terms massively in Delivery Hero's favor, Thomassin's comment, "Seeing our term facilities significantly amended in our favor," feels like an understatement. It's like pulling a rabbit out of the hat and finding it's made of gold.
4️⃣ The future looks bright 🌞
This isn't just about now. It's setting the stage for a future where Delivery Hero isn't just delivering your food but also delivering profitability. With a strategy focused on aligning debt with cash flows and eyeing significant free cash flow, the delivery giant is on a path to financial stardom.
❓ Did Delivery Hero's financial maneuver impress you?
