GDS 2% convertible note holders have repurchase rights to May 30

By Mary-Katherine Stinson

Lexington, Ky., April 28 – GDS Holdings Ltd. announced repurchase rights for its 2% convertible senior notes due 2025 (Cusips: 36165LAA6, 36165LAB4, G3902LAA7), according to a 6-K filing with the Securities and Exchange Commission.

The repurchase right may be exercised beginning at 9 a.m. ET on May 2 and expire at 5 p.m. ET on May 30, which is also the withdrawal deadline.

Holders may require the company to repurchase their notes in full or in part at par plus accrued interest on the interest payment date of June 1. Additionally, on June 1, the company will pay accrued interest on all the notes through May 30 to noteholders of record as of 5 p.m. ET on May 15, regardless of the exercise of the repurchase right.

In order to exercise the repurchase right, holders must follow the procedures found in the company’s notice, which is available through Bank of New York Mellon, the trustee.

As of April 28, there was $299.99 million notes outstanding.

GDS Holdings is a Shanghai-based developer and operator of data centers in China.

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