DoorDash Seeks $2 Billion in Convertible Bond After Deal Spree

DoorDash Inc. is raising $2 billion from the sale of convertible bonds, less than a month after the US’ largest food-delivery service announced a pair of sizable deals to expand its global footprint.

The company plans to use the proceeds of the five-year note offering for purposes including potential acquisitions and buybacks, as well as hedging transactions related to the deal, according to an announcement Tuesday. DoorDash agreed to buy London-based delivery operator Deliveroo Plc for about $3.9 billion and hospitality tech company SevenRooms Inc. for $1.2 billion, separate announcements on May 6 showed.

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