Hogan Lovells advises syndicate banks in the placement of EUR 175 million convertible bonds of HelloFresh SE

Led by Frankfurt partner Michael Schlitt and of counsel Susanne Ries, Hogan Lovells advised the syndicate banks in connection with the placement with institutional investors of unsubordinated, unsecured convertible bonds of HelloFresh SE with a term of five years and in an aggregate principal amount of EUR 175 million.

The bonds bear interest at an annual rate of 0.75%, payable semi-annually in arrears. The initial conversion price was set at EUR 50.764, representing a premium of 40.0% over the closing price of the shares of the company on XETRA on May 5, 2020. The Company intends to use the proceeds from the Offering for the further funding of its growth strategy, including investments in capacity expansion, and for general corporate purposes. The convertible bonds are expected to be included promptly in over the counter trading on the Frankfurt Stock Exchange. 

BNP Paribas and J.P. Morgan Securities plc advised on the transaction as Joint Global Coordinators and, together with Deutsche Bank Aktiengesellschaft, as Joint Bookrunners. Joh. Berenberg, Gossler & Co. KG and Coöperatieve Rabobank U.A. acted as Co-Lead Managers. 

Hogan Lovells Team

Prof. Dr. Michael Schlitt (Partner), Dr. Susanne Ries (Of Counsel), Mark Devlin (Counsel), Dr. Timo Lockemann, Christian Schröder (Associates), Eva-Christina Sommer, Simona Gradišek (Business Lawyers), (all Corporate and Capital Markets).


HelloFresh SE: Dr. Christian Ries (lead), Michael Sturm LL.M.

BNP PARIBAS: Anthony Dow

J.P. Morgan: Helen Ahern 

Deutsche Bank: Dr. Roland Schmidtbleicher LL.M. 

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