Delivery Hero Stock: Billion-Euro Bond Buyback Plan Revealed

Delivery Hero, the Berlin-based food delivery service, has announced an ambitious financial restructuring initiative, launching a comprehensive convertible bond buyback program valued at approximately one billion euros. The company's strategy encompasses bonds maturing in 2025, 2026, and 2027, with varying repurchase terms. For the 2025 bonds, carrying an outstanding nominal value of 48.1 million euros, Delivery Hero offers a buyback price of 99.375 percent. The 2026 bonds, with a nominal value of 593.5 million euros, are proposed at 97.500 percent. The market's initial response was subdued, with the company's stock showing a slight decline of 0.92 percent to 30.02 euros.

2027 Bond Details

The company's approach to the 2027 bonds involves a partial buyback of up to 350 million euros from the total outstanding volume of 875 million euros. This portion will be executed through a modified Dutch reverse auction, with a minimum price set at 94.500 percent of the nominal value. The settlement timeline is structured sequentially, with the 2025 and 2027 bonds scheduled for February 26, 2025, followed by the 2026 bonds on March 5, 2025.