Delivery Hero raises over one billion euros

As the company announced on Thursday evening, Delivery Hero intends to issue convertible bonds to raise capital for its further growth.

Delivery Hero needs more money for its growth and is now issuing a convertible bond. The company wants to raise one billion euros. The first tranche of 750 million euros bears interest at 1.0 percent and runs until 2026, the second tranche of 500 million euros until 2029 has an interest rate of 2.125 percent. Both tranches can be converted into shares under certain conditions.

Delivery Hero intends to use the money for "general corporate purposes" and "attractive investment opportunities", as it announced. The Berlin-based company is currently planning to invest 200 million euros in the 10-minute delivery service Gorillas, with another 200 to 400 million euros to be added later. In addition, the company took over the South Korean delivery service Woowa in December, in return for which Delivery Hero is selling its own subsidiary in South Korea. This was a requirement of the local authorities.

According to Delivery Hero, the convertible bonds will be released "on or around September 10, 2021" and will then be freely traded on the Frankfurt Stock Exchange.