New Issue: Chindata prices $300 million 10½% senior notes due 2026 at 99.061

By William Gullotti

Buffalo, N.Y., Feb. 15 – Chindata Group Holdings Ltd. priced $300 million of 10½% senior notes due 2026 (//BBB-) at 99.061, according to a 6-K filing with the Securities and Exchange Commission.

The notes are issued under Regulation S.

Chindata Group intends to use the net proceeds from the sale of the notes for investment in data centers in China and overseas, supplementing working capital and investment in research and development.

Chindata is a Beijing-based data center operator.

Issuer:	Chindata Group Holdings Ltd.
Amount:	$300 million
Issue:	Senior notes
Maturity:	Feb. 23, 2026
Bookrunners:	Morgan Stanley, Credit Suisse (joint global coordinators) and DBS Bank Ltd.
Trustee:	Bank of New York Mellon, London Branch
Counsel to issuer:	Linklaters, Fangda Partners, Maples and Calder (Hong Kong) LLP, Appleby
Counsel to underwriters:	Davis Polk & Wardwell LLP and JunHe LLP
Coupon:	10½%
Price:	99.061
Call features:	Make-whole call at Treasuries plus 100 bps
Equity clawback:	Up to 35% at 110.5
Change of control:	At 101
Trade date:	Feb. 15
Settlement date:	Feb. 23
Ratings:	Fitch: BBB-
Distribution:	Regulation S
ISIN:	XS2587754909

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