Delivery Hero returns with €1.5bn convert

By Aidan Gregory
08 Jul 2020

Delivery Hero, the German online food ordering marketplace, has returned to the equity-linked market six months after its debut to issue a jumbo €1.5bn dual-tranche convertible bond to fund M&A opportunities.

The sale of the convertible bonds and the simultaneous delta equity placement to facilitate hedging came after shares in Delivery Hero hit an all-time high following a trading update at the end of last week, which highlighted how Covid-19 has had a positive impact on Delivery Hero’s business ...

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