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Prospect News home > News index > List of issuers Tenders > Headlines for 2019 > News item
Published on 3/29/2019 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

21Vianet launches tender offer to purchase 7% senior notes due 2020

By Marisa Wong

Morgantown, W.Va., March 29 – 21Vianet Group, Inc. is inviting holders of its $300 million 7% senior notes due 2020 to tender their notes for purchase for cash, according to a press release.

The company plans to purchase an amount of the existing notes up to the amount of new notes it will issue in a concurrent offering. The company announced on Friday that it plans to issue dollar-denominated senior notes and will begin a series of fixed-income investor meetings on Monday.

The tender offer will expire at 5 p.m. ET on April 8.

The company is offering to purchase the notes at $1,006.25 per $1,000 principal amount and will also pay accrued interest to but excluding the settlement date, which is expected to be April 16.

If the amount of existing notes tendered exceeds the tender cap, the notes will be accepted for purchase on a pro rata basis. The company said it may also choose to adjust the tender cap.

The tender offer is conditioned on the company issuing the new notes, proceeds of which would be used to fund the tender offer.

Credit Suisse (Hong Kong) Ltd. (attn.: legal – investment banking and capital markets) and Barclays Bank plc (+44 20 7773 8890, attn.: liability management group, eu.lm@barclays.com in London or +852 2903 2706, attn.: liability management group, tmgap@barclays.com in Hong Kong) are the dealer managers.

D.F. King Ltd. (+44 20 7920 970 or +852 3953 7230, 21vianet@dfkingltd.com, https://sites.dfkingltd.com/21vianet) is the information and tender agent.

Based in Beijing, 21Vianet is a carrier- and cloud-neutral internet data center services provider.


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