LONDON (dpa-AFX) - Online food delivery company Just Eat Takeaway.com N.V. (JET.L) announced Tuesday that it has placed 1.1 billion euros of convertible bonds, consisting of two tranches.
It includes an aggregate principal amount of 600 million euros due August 2025, upsized from 500 million euros, and an aggregate principal amount of 500 million euros due February 2028, convertible into ordinary shares of the company.
The company intends to use the net proceeds from the issue of the Convertible Bonds for general corporate purposes as well as to provide the company with financial flexibility.
The Convertible Bonds will be issued at 101.5% (Tranche A) and at 100% (Tranche B) of their nominal value and redeemed at 100% of their nominal value.
Further, regarding the proposed Grubhub all-stock acquisition, the company said the deal is expected to close after completion of the offering of the Convertible Bonds during the first half of 2021.
Grubhub has publicly stated its intention to publish its financial results for the fiscal quarter and the full year ended 31 December 2020 on February 3, which is before the expected Issue Date.
BofA Securities Europe SA, ABN AMRO Bank N.V., Barclays Bank Ireland PLC, BNP Paribas and ING are acting as Joint Global Coordinators and Joint Bookrunners on the offering of the Convertible Bonds, alongside Société Générale as Joint Bookrunner.
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