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DELIVERY HERO AG (FRA:DE000A2E) EQS-Adhoc: Delivery Hero SE invites holders to tender their convertible bonds due in 2025 and 2026 for cash

Transparency directive : regulatory news

18/03/2024 19:42

EQS-Ad-hoc: Delivery Hero SE / Key word(s): Bond
Delivery Hero SE invites holders to tender their convertible bonds due in 2025 and 2026 for cash

18-March-2024 / 19:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


NOT FOR DISTRIBUTION, PUBLICATION OR FORWARDING, EITHER DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS PUBLICATION.

 

Public disclosure of inside information according to Article 17(1) of the Regulation (EU) No 596/2014 on market abuse (Market Abuse Regulation - MAR)


Delivery Hero SE invites holders to tender their convertible bonds due in 2025 and 2026 for cash

 

Berlin, 18 March 2024 – Delivery Hero SE ("Delivery Hero" or the "Company", ISIN: DE000A2E4K43, Frankfurt Stock Exchange: DHER), today announces the launch of a convertible bond tender offer, inviting current bondholders to submit offers to sell any and all of the outstanding convertible bonds due 2025 (ISIN: DE000A3H2WP2) (the "2025 Bonds") and up to EUR 100 million principal amount of the outstanding convertible bonds due 2026 (ISIN: DE000A3MP429) (the “2026 Bonds”). The Management Board and the Supervisory Board of Delivery Hero decided today to increase the intended buyback amount from at least EUR 300 million to approximately EUR 600 million (the “Target Amount”). Delivery Hero reserves the right, in its sole and absolute discretion, to purchase less than or more than the Target Amount and to determine the respective purchase amount of the 2025 Bonds and the 2026 Bonds.

The Company invites the holders of the 2025 Bonds, whose outstanding principal amount is EUR 500 million as of today (following an already completed buyback in the amount of EUR 250 million in 2023), to tender for purchase for cash any and all of the 2025 Bonds, whereby the decision to accept an offer to sell is at the Company's sole and absolute discretion (the "2025 Bonds Repurchase Invitation"). The repurchase price per 2025 Bond tendered under the 2025 Bonds Repurchase Invitation is 94.75% of the principal amount per 2025 Bond (equal to EUR 94,750 per 2025 Bond). The Company will also pay interest accrued on the purchased 2025 Bonds from and including the interest payment date for the 2025 Bonds immediately preceding the Invitation Settlement Date to but excluding the Invitation Settlement Date.

The Company also invites the holders of the 2026 Bonds, whose outstanding principal amount is EUR 750 million as of today, to tender for purchase for cash up to EUR 100 million principal amount of the 2026 Bonds, whereby the decision to accept an offer to sell is at the Company's sole and absolute discretion (the "2026 Bonds Repurchase Invitation" and together with the 2025 Bonds Repurchase Invitation, the “Repurchase Invitations”). The repurchase price per 2026 Bond tendered under the 2026 Bonds Repurchase Invitation will be determined by the Company in accordance with the modified reverse Dutch auction procedure, but is at least 89.00% of the principal amount per 2026 Bond (equal to EUR 89,000 per 2026 Bond). The Company will also pay interest accrued on the purchased 2026 Bonds from and including the interest payment date for the 2026 Bonds immediately preceding the Invitation Settlement Date to but excluding the Invitation Settlement Date.

The Repurchase Invitations will start today, 18 March 2024, at 19:45 CET and expire at 16:00 CET on 20 March 2024, unless amended, extended, re-opened or terminated.

Settlements of the Repurchase Invitations are subject to settlements of the add-on term loan facilities announced on 8 March 2024 and successfully syndicated, totaling to EUR 740 million (i.e. the add-on facility of EUR 500 million equivalent US Dollar Term Facility and a EUR 540 million Term Facility replacing and upsizing the existing EUR 300 million facility). These facilities are expected to settle on or around 20 March 2024, and the settlements of the Repurchase Invitations are expected to take place on or around 26 March 2024.

 

Responsible Person for this Publication

Christoph Bast
Head of Investor Relations
ir@deliveryhero.com



End of Inside Information

Information and Explanation of the Issuer to this announcement:

Important notice

This announcement may not be published, distributed or transmitted, directly or indirectly, in the United States of America (including its territories and possessions), Canada, Japan or Australia or any other jurisdiction where such announcement could be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons who are in possession of this document or other information referred to herein should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The Repurchase Invitations are not an extension of a tender offer in the United States for securities of Delivery Hero SE. A tender offer for the sale of the securities is not being made within the United States or to, or for the account or benefit of, persons located or resident in the United States or in any other jurisdiction where the Repurchase Invitations or any participation therein would be unlawful.

This announcement does not constitute an offer of, or a solicitation of an offer to purchase, securities of Delivery Hero SE or of any of its subsidiaries in the United States of America, Germany or any other jurisdiction. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, an offer in any jurisdiction. The securities to which the Repurchase Invitations refer will not be and have not been registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act.

In the United Kingdom, this announcement is only directed at persons who are “qualified investors” within the meaning of Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 who are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this information or any of its contents.

In member states of the European Economic Area the Repurchase Invitations are directed exclusively at persons who are "qualified investors" within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (Prospectus Regulation).

No action has been taken that would permit an offering or an acquisition of the securities or a distribution of this announcement in any jurisdiction where such action would be unlawful. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

This announcement does not constitute a recommendation concerning the Repurchase Invitations. Investors should consult a professional advisor as to the suitability of the Placement for the person concerned.

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.


18-March-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Delivery Hero SE
Oranienburger Straße 70
10117 Berlin
Germany
Phone: +49 (0)30 5444 59 105
Fax: +49 (0)30 5444 59 024
E-mail: ir@deliveryhero.com
Internet: www.deliveryhero.com
ISIN: DE000A2E4K43
WKN: A2E4K4
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, OTC QB, OTC QX, SIX, Vienna Stock Exchange
EQS News ID: 1861389

 
End of Announcement EQS News Service

1861389  18-March-2024 CET/CEST

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