FRANKFURT (Dow Jones)–Delivery Hero wants to raise around 500 million euros with additional credit lines in order to buy back convertible bonds worth at least 300 million euros. The delivery service in Berlin announced that the aim is to reduce financing costs. The money will be used to redeem parts of the outstanding convertible bonds due in 2025 and 2026 early. Details will be announced at a later date, Delivery Hero said.
Depending on the dynamics and outcome of the buyback, the remaining amount from the additional credit line will be used for general corporate purposes. This may also mean further repurchases of outstanding convertible bonds.
Delivery Hero also announced that it would change the existing credit lines of $813 million and €300 million in its own favor and extend their term from August 2027 to December 2029.
Contact the author: [email protected]
DJG/rio/cla
(END) Dow Jones Newswires
March 04, 2024 02:03 ET (07:03 GMT)
2024-03-04 07:10:43
#Delivery #Hero #replace #convertible #bonds #loan #million #euros
