The online delivery service Delivery Hero wants to invest money in growth and “general corporate purposes”.
The online delivery service Delivery Hero is raising more than a billion for growth by issuing convertible bonds.
The first tranche of 750 million euros bears interest at 1.0 percent, the coupon of the second tranche of 500 million euros is 2.125 percent, as the Dax group announced.
The company announced the issue shortly after the market closed. The interest rate is thus at the upper end of the management’s conception. The convertible bonds have terms until April 2026 and March 2029, respectively. The papers are to be issued on or around September 10th.
The management intends to use the fresh money “for general corporate purposes” and – when the opportunity arises – to invest in growth. The “Manager Magazin” recently reported that Delivery Hero was about to join the delivery service start-up Gorillas – initially for around 200 million euros. According to this, a further 200 to 400 million euros are to be invested later.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
