By Rebecca Melvin
New York, April 10 – 21Vianet Group Inc. priced $300 million of 7 7/8% notes due 2021 (B1/B+/B+), according to an announcement from the company.
The new notes priced concurrently with the company’s tender of $150.84 million of its 7% notes due 2020, representing 50.3% of that issue outstanding.
Credit Suisse, Barclays and Orient Securities (Hong Kong) acted as joint global coordinators, joint bookrunners and joint lead managers for the transaction.
Proceeds are earmarked for refinancing outstanding offshore debt, to fund future capital needs and for general corporate purposes.
Beijing-based 21Vianet is an internet data center services provider.
| Issuer: | 21Vianet Group Inc.
|
| Issue: | Notes
|
| Amount: | $300 million
|
| Maturity: | Oct. 15, 2021
|
| Bookrunners: | Credit Suisse, Barclays and Orient Securities (Hong Kong)
|
| Coupon: | 7 7/8%
|
| Announcement date: | April 10
|
| Settlement date: | April 16
|
| Ratings: | Moody’s: B1
|
| S&P: B+
|
| Fitch: B+
|
| Distribution: | Regulation S
|
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