EQS-News: Delivery Hero successfully completes the redenomination of its EUR term loan into South Korean won

15.05.24 08:00 Uhr

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EQS-News: Delivery Hero SE / Key word(s): Financing
Delivery Hero successfully completes the redenomination of its EUR term loan into South Korean won

15.05.2024 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Delivery Hero successfully completes the redenomination of its EUR term loan into South Korean won

  • Delivery Hero further optimizes its capital structure by successfully redenominating its existing EUR 540 million term facility to South Korean won
  • The transaction aligns Delivery Hero’s debt currency mix more closely with its cash flow profile
  • The amended facility will have a principal amount of KRW 794.0bn and quarterly interest payments based on a rate equivalent to the CD rate plus 5.00% p.a.

Berlin, 15 May 2024 – Delivery Hero SE (“Delivery Hero” or the “Company”), the world’s leading local delivery platform, today announces the successful redenomination of its existing EUR 540 million term facility to South Korean won, effective 13 May 2024.

Following the successful syndication of a EUR 540 million term facility announced on 18 March 2024, the Company reached an agreement with all lenders in this facility to change the currency from euro to South Korean won. The amended facility will have a principal amount of KRW 794.0 billion. Interest payments will be made quarterly based on a rate equivalent to the Certificate of Deposit (“CD”) rate plus 5.00% p.a. All payments under the facility will be made in US dollars, with reference to the exchange rate between the US Dollar and the South Korean won at the time of the payment. The maturity of the term facility remains December 2029, in line with existing term facilities.

Emmanuel Thomassin, CFO of Delivery Hero, said: ”We are proud to successfully execute such an innovative financing transaction in the debt capital markets. South Korea is our largest single market, but we had raised limited debt in local currency until now. Redenominating part of our term facilities to South Korean won allows us to align our debt currency mix more closely to our cash flows. We are grateful for the continued partnership with our lenders, in particular the teams at Apollo Global Management and Farallon Capital Europe LLP with whom we collaborated on this transaction.”

Standard Chartered Bank and J.P. Morgan acted as lead arrangers for the transaction.

 

About Delivery Hero
Delivery Hero is the world's leading local delivery platform, operating its service in around 70 countries across Asia, Europe, Latin America, the Middle East and North Africa. The Company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 20 to 30 minutes. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index. For more information, please visit www.deliveryhero.com.

Media contact
Corporate & Financial Communications
press@deliveryhero.com

Investor Relations contact
Christoph Bast
Head of Investor Relations
ir@deliveryhero.com

Disclaimer
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.



15.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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: 1903061

 
End of News EQS News Service

1903061  15.05.2024 CET/CEST

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