Delivery Hero: Debt Restructuring Update

Delivery Hero is changing its financing structure. The MDAX group has secured a new credit line of $1.5 billion and wants to use it to repay convertible bonds. The share reacted on Thursday with an increase of 1.2 percent – but what is really behind the move?

Fresh money for old debts

The delivery service giant is about to conclude a syndicated credit line due on June 30, 2032. The net proceeds will initially be used to fully repay convertible bonds worth 56 million euros, which will mature at the end of April 2026. The second project is significantly larger: Delivery Hero is planning a buyback offer for convertible bonds with a total nominal amount of 540 million euros, which expire in January 2027. However, this offer is subject to reservations – both market conditions and the approval of the board of directors and supervisory board must cooperate.

What the company plans to do with the remaining funds remains flexible: strengthening liquidity, general corporate purposes and further possible buybacks of convertible bonds are on the list. The Berliners emphasize that they proactively manage their financial liabilities with a focus on the maturity profile and borrowing costs.

AI fears are easing

The share also received positive tailwind from industry news. The tech medium “The Information” reported that OpenAI is scaling back its plans for a shopping function directly in the chatbot ChatGPT. This news temporarily eased concerns about an AI-related threat to the business models of Internet and software companies. In addition to Delivery Hero, Zalando with 3.6 percent and HelloFresh with 4.6 percent also benefited from the improved mood.

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Should investors sell immediately? Or is it worth joining? Delivery Hero?

JPMorgan analyst Marcus Diebel sees the OpenAI news as slightly positive, but remains cautious. The sector remains vulnerable to negative AI news and structurally higher levels of investment may be required in the future.

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Delivery Hero share: buy or sell?! New Delivery Hero analysis from March 5th provides the answer:

The latest Delivery Hero figures speak for themselves: there is an urgent need for action for Delivery Hero shareholders. Is it worth getting started or should you sell? In the current free analysis from March 5th you will find out what to do now.

Delivery Hero: Buy or sell? Read more here…