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White & Case Advises Delivery Hero on €1.4 Billion-Equivalent Term Loan B and New Revolving Credit Facility

Global law firm White & Case LLP has advised Delivery Hero SE, one of the world's largest local delivery platforms, on a Term Loan B comprising of a US$825 million term facility and a €300 million term facility, each with a maturity of 5.25 years, and a new €375 million revolving credit facility, which will have an initial maturity of three years and two one-year extension options.

Delivery Hero started as a food delivery service in 2011 and now runs its own delivery platform in approximately 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt stock exchange since 2017, and became part of the DAX index (Deutscher Aktienindex) in 2020.

Delivery Hero intends to use the proceeds from the term facilities for general corporate purposes, including potential refinancing of convertible debt at maturity, working capital and guarantees. The transaction will help to diversify funding sources for Delivery Hero and further bolster the company's strong liquidity position for the years to come.

The White & Case team which advised on the transaction was led by partners Gernot Wagner, Vanessa Schürmann and Yannick Adler (all Frankfurt) and included partners Thilo Diehl, Rebecca Emory, Bodo Bender (all Frankfurt) and Justin Wagstaff (New York), counsel David Santoro and associates Timo Lockemann, Ann Marie Hovey, Merve Sismangil, Patrick Schoelles (all Frankfurt) and Shana White (New York).

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