China’s 21Vianet holders tender RMB 702.5 million 7 7/8% bonds so far

By Marisa Wong

Madison, Wis., June 17 – 21Vianet Group, Inc. said that holders had tendered RMB 702,502,000, or 70.3%, of its RMB 1 billion 7 7/8% bonds due 2016 as of 10 p.m. ET on June 16.

As previously announced, the company launched a cash tender offer for its 7 7/8% bonds on June 5.

The offer will expire at 10 p.m. ET on June 23.

The company is offering to pay an early participation purchase price of RMB 103,175, which includes an RMB 800 early tender premium, for each RMB 100,000 of bonds tendered prior to 10 p.m. ET on June 15, the early tender deadline.

The company will pay a purchase price of RMB 102,375 for each RMB 100,000 of bonds tendered after the early deadline but before the expiration time.

Holders will also receive accrued interest to but excluding the settlement date, which is expected to be June 30.

The company said it intends to fund the offer using proceeds from a concurrent debt offering together with cash on hand.

Barclays Bank plc (+44 20 7773 8990 or +852 2903 2706, attn.: liability management group, tmgap@barclays.com) is the dealer manager for the offer. Citicorp International Ltd. (fax: +852 2621 3183, attn.: A&T OPS, apac.at.operations@citi.com) is the tender agent.

21Vianet Group is a Beijing-based internet data center services provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.