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Rocket Internet Decided to Use Up To EUR 150 Million for the Buyback of Convertible Bonds

The Management Board of Rocket Internet SE (“Rocket Internet” or the “Company”) decided to spend up to EUR 150 million on a program to repurchase senior unsecured convertible bonds due 2022 issued by the Company (ISIN DE000A161KH4) during 2016. Repurchases of convertible bonds under the program may commence immediately. Repurchased convertible bonds will be held by the Company or cancelled. The Company’s Supervisory Board approved the repurchase program.

Berlin, Germany, 15th February, 2016 – The Management Board of Rocket Internet SE (“Rocket Internet” or the “Company”) decided to spend up to EUR 150 million on a program to repurchase senior unsecured convertible bonds due 2022 issued by the Company (ISIN DE000A161KH4) during 2016. Repurchases of convertible bonds under the program may commence immediately. Repurchased convertible bonds will be held by the Company or cancelled. The Company’s Supervisory Board approved the repurchase program.

The Company’s successful divestiture of La Nevera Roja, PizzaBo and other non-core takeaway food businesses at the beginning of February 2016 increased the available funds of Rocket Internet and its portfolio companies by EUR 125 million. In addition, following the launch of the Rocket Internet Capital Partners Fund in January 2016, the Company has secured co-funding commitments from third-party investors for new investments resulting in a further improvement of the financial flexibility of Rocket Internet.

“Given the significant improvement in financial flexibility we intend to use available funds for the repurchase and thereby reduce interest expenses for the outstanding bonds”, said Oliver Samwer Chief Executive Officer of Rocket Internet. A repurchase of the convertible bonds will also reduce the dilution risk faced by the shareholders, Samwer further commented.

Repurchases of the convertible bonds will be carried out using one or more banks based on instructions given by Rocket Internet. The buyback may be suspended and resumed at any time. Rocket Internet will make an announcement once the repurchase program has been completed.

By Liliana K

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