Delivery Hero to launch $825 million term loan B on Tuesday

By Sara Rosenberg

New York, April 4 – Delivery Hero will hold a lender call at 10 a.m. ET on Tuesday to launch an $825 million 5.25-year term loan B (B-), according to a market source.

JPMorgan Chase Bank is the sole physical bookrunner on the deal. UniCredit, HSBC and Barclays are bookrunners. HSBC is the agent.

The term loan is talked at SOFR plus 625 basis points to 650 bps with a 0.5% floor and an original issue discount of 97, the source said.

The term loan is non-callable for one year.

Commitments are due at 5 p.m. ET on April 13, the source added.

Proceeds will be used with a €300 million pre-placed term loan B (B-) for general corporate purposes, including to potentially refinance existing convertible debt at maturity, working capital and guarantees.

The company also plans on getting a €375 million three-year revolving credit facility with two one-year extension options.

Delivery Hero is a Berlin-based food delivery service.

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