BEIJING, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Chindata Group Holdings Limited (“Chindata Group” or the “Company”) (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, announced that it has priced its U.S.$300,000,000 in aggregate principal amount of senior notes due 2026 (the “Notes”). The Notes were assigned BBB- by Fitch. It will bear interest at a coupon rate of 10.500% per annum and will be issued at a price of 99.061% of the aggregate principal amount. The offering of Notes attracted unprecedented strong support from high quality investors in APAC and EMEA, with the final order books reaching over US$980million. Morgan Stanley & Co. International plc and Credit Suisse (Hong Kong) Limited acted as Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers, DBS Bank Ltd acted as Joint Bookrunner and Joint Lead Manager.
Chindata Group intends to use the net proceeds from the sale of the Notes for investment in data centers in the PRC and overseas, supplementing working capital and investment in research and development.
The issuance of the Notes is subject to customary closing conditions.
The Notes were offered outside the United States in offshore transactions in accordance with Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), and have not been, and will not be, registered under the Securities Act. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities referred to in this announcement, in any jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Nick Wang, Chief Financial Officer of the Company, commented, "We are very pleased to have completed the pricing of the Notes. The business expansion of the Company in China and Southeast Asia will be further supported with the newly establishment of this meaningful financing channel. We believe the Notes have achieved several milestones as well. Our rating has been the highest credit ratings achieved by Chinese IDC player, in comparable range to some major global peers, and the Notes is the first offshore bond offering from Chinese ADR issuers since August 2021. Despite fragile market sentiment around macro outlook, we continued to attract significant investor interest during 2-day telephonic roadshow and have received unprecedented strong support from high quality international institutional investors, including global asset managers and pension fund. Chindata remains highly committed to the mission of efficiently converting electric power to computing power, and we will continue to build a business beneficial to all our stakeholders."
