Delivery Hero restructures with a USD syndication, extending maturity to 2029 and reducing interest rates, while preparing to repurchase convertible bonds.
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.
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.
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.
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?
Each week we select most important sector news and statistic
so that you can be up to speed