- GDS Holdings Limited (NASDAQ:GDS) looked to raise $580 million via private 4.50% convertible senior notes offering due 2030.
- The conversion price of $24.50 implied a premium of 2.6% to the January 10 closing of $23.89. It indicated a premium of 16.7% to the volume-weighted average price of GDS ADSs traded on NASDAQ for the 25 trading days immediately preceding the signing date.
- The notes will be convertible into ADSs at the option of the holders.
- The leading developer and operator of high-performance data centers in China looked to utilize the offering proceeds for developing and acquiring new data centers, general corporate purposes, and working capital needs.
- GDS held $5.1 billion in long-term debt and $1.28 billion in cash and equivalents as of September 30.
- Price Action: GDS shares traded lower by 8.66% at $21.82 in the premarket on the last check Wednesday.
Blackstone Nears Privatization Of L’Occitane – Ending Skin-Care Giant’s 14-Year Hong Kong Stock Exchange Run: Report
Blackstone inches closer to privatizing L'Occitane, potentially ending its 14-year tenure on the Hong Kong stock exchange, amid advanced talks and pending announcement.
