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Technology Delivery Hero wants to get 1.5 billion euros - with convertible bonds

14:15  08 july  2020
14:15  08 july  2020 Source:   t3n.de

Corona credit lines can now be applied for from the ESM rescue fund

 Corona credit lines can now be applied for from the ESM rescue fund Berlin, May 15 (Reuters) - EU countries such as Italy and Spain hit particularly hard by the coronavirus crisis will be able to tap into the ESM rescue fund for relief loans from Friday. Federal Finance Minister Olaf Scholz said that 240 billion euros would now be available for this before consulting his EU counterparts. "Today is a good day for Europe." The so-called Board of Governors of the European Stability Mechanism (ESM) should finally release the precautionary Corona credit lines on Fri

The Convertible Bonds are initially convertible into approximately 17.9 million new or existing ordinary no-par value registered shares of Delivery Hero . The Convertible Bonds have been placed solely to institutional investors in certain jurisdictions via a private placement.

For Delivery Hero , now worth over 11 billion euros ( billion ) after listing at a value of 4.4 billion euros two and a half years ago, buying Woowa expands its presence in Asia as Europe becomes more competitive. Its shares leapt 18.9% to a record 59.64 euros apiece.

Delivery Hero. © Delivery Hero Delivery Hero.

The food delivery service Delivery Hero wants to get 1.5 billion euros in fresh funds from convertible bonds on the capital market. The money could also flow into new acquisitions.

On April 1, 2019, Delivery Hero had sold its German business (Foodora, Lieferheld, Pizza.de) to the Dutch rival Takeaway.com (Lieferando), earning almost a billion euros in the process. Now, however, a new purchase or at least larger investments could be made. Because Delivery Hero wants to get 1.5 billion euros in fresh funds from convertible bonds on the capital market, as the company announced on Tuesday.

The European Commission unveils a recovery plan of 750 billion euros

 The European Commission unveils a recovery plan of 750 billion euros SANTE-CORONAVIRUS-UNION-RELANCE: The European Commission unveils a recovery plan of 750 billion euros © Reuters / Johanna Geron THE EUROPEAN COMMISSION UNVEILS RECOVERY PLAN OF 750 BILLION BRUSSELS (Reuters) - "Repair and prepare": the European Commission unveiled on Wednesday a recovery plan of 750 billion euros which, backed by a multi-annual budget of 1.100 billion euros , should allow the bloc's economy to recover from the coronavirus epidemic which has greatly shaken the 27 member states.

Get the latest DELIVERY HERO SE (DLVHF) stock news and headlines to help you in your trading and investing decisions. Delivery Hero harnessed strong demand from convertible bond investors to raise more than €2bn on Wednesday, snagging cheap funding for the acquisition of its South Korean

Delivery Hero harnessed strong demand from convertible bond investors to raise more than €2bn on Wednesday, snagging Delivery Hero increased the size of the convertible bond from an initially planned € 1 . 5 bn during discussions Get alerts on Corporate bonds when a new story is published.

Delivery Hero: Acquisition planned

According to the analyst Sarah Simon from the private bank Berenberg, this indicates possible increased investments or the possibility of new acquisition opportunities. After all, the war chest of the food delivery service was already very well stocked with cash of 2.8 billion euros by the end of the first quarter, according to analyst , according to Finanz.net . According to Delivery Hero, the fresh money will be used for "general corporate purposes". However, the company remained open to wanting to take advantage of “potentially attractive investment opportunities”.

Specifically, the convertible bonds are to be issued on or around July 15th. Delivery Hero plans to issue the convertible bonds in two tranches of EUR 750 million each with terms until 2025 and 2028. The annual interest rate should be between 0.625 to 1.125 percent and 1.25 to 1.75 percent. The company excluded subscription rights for shareholders.

EXKLUSIV-Insider - New debt for supplementary budgets of up to 50 billion euros

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Delivery Hero AG is set to complete Germany’s biggest tech listing in three years, after pricing the highly awaited 996 million euro (.1 billion ) Delivery Hero operates a variety of brands including Lieferheld, Foodora and Foodpanda, through which it either brokers deliveries from Get in touch.

4 billion euros (. 5 billion ) selling bonds that will be converted into shares to fund the acquisition of some of Liberty Global Plc’s European businesses without The mandatory convertible bond sale plans, previously reported by Bloomberg, follow Vodafone’s issuance of almost 2.9 billion pounds

DAX rise for food delivery service?

There was hardly any applause for the plans on the stock exchange. At the start on Wednesday morning, the Delivery Hero papers lost around two percent. The share price is currently hovering around the EUR 100 mark. However, Delivery Hero, profiting from the corona pandemic, has been able to significantly increase the value of its share in recent months. In mid-March, the share price fell below the 60 euro mark. Thanks to the strong increase and the stock market value of around 20 billion euros, Delivery Hero could move up to the Dax in September and replace the payment service provider Wirecard , which was in a vortex, there.

For the second quarter

, the company announced a doubling of orders in advance - after an initial slump in April. The total value of sales via the platform (GMV) climbed 64 percent compared to the same period last year to just under 2.8 billion euros. For the entire year , Delivery Hero is currently expecting to generate sales of 2.4 to 2.6 billion euros. CEO Niklas Östberg could adjust this forecast at the end of July when the report for the second quarter is published.

More on the subject:

“Team Europe”: Start-up company behind Delivery Hero and Mister Spex should return

European food delivery service Just Eat Takeaway swallows upstroke

For 2.3 billion euros: Uber purchases delivery service Postmates

Corona crisis leaves its mark on Deutsche Bank .
© Reuters / ANDREW KELLY Signage is seen on the lobby of the U.S. headquarters of Deutsche Bank in New York City Frankfurt (Reuters) - The corona crisis left its mark on Deutsche Bank in the second quarter. The bottom line - after deduction of interest payments for subordinated bonds - was primarily due to a higher risk provision for bad loans, a loss of 77 million euros, as the largest German financial institution announced on Wednesday.

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