Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised the consortium of banks that recently placed a convertible bond with institutional investors for Delivery Hero SE and simultaneously advised on the buyback of two existing convertible bonds of Delivery Hero SE. The syndicate of banks included HSBC, J.P. Morgan, Morgan Stanley, Barclays, Goldman Sachs, UniCredit and Standard Chartered.
The newly issued convertible bond has a total volume of EUR 1.0 billion, is due in 2030 and has an interest rate of 3.25 percent p.a. as well as a conversion premium of 40 percent in relation to the relevant reference price. The concurrent repurchase of two convertible bonds due in 2024 and 2025 was made in a total volume of over EUR 725 million. The company intends to use the proceeds from the issuance of the convertible bons to finance the repurchase of the existing convertible bonds and for general corporate purposes.
Freshfields had already advised the bank syndicates on the placements of convertible bonds of Delivery Hero SE in January 2020, in July 2020 and in September 2021.
The Freshfields core team included Partners Rick van Aerssen and Christoph Gleske as well as Principal Associate Nikolaus Bunting (all Global Transactions, Frankfurt).
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