21Vianet Repurchases 50% of $300 Mln of Notes for $150.8 Mln


21Vianet Group (VNET), a carrier- and cloud-neutral internet data center services provider in China, on Wednesday shared results of the company’s cash tender offer to eligible holders of the US$300 million senior notes, due 2020 at a coupon rate of 7.000% per year.

The tender offer of the 2020 notes expired on Monday, with about $150.8 million in principal amount of the 2020 notes, representing about 50.28% of the US$300 million total aggregate principal amount of the 2020 notes had been validly tendered and not validly withdrawn.

The company will accept for purchase the 2020 notes in full with no pro rata scaling.

Additionally, 2020 notes repurchased 21Vianet pursuant to the tender offer will be cancelled and any 2020 notes that remain outstanding after the tender offer will continue to be the obligations of the company. Holders of those outstanding 2020 notes will continue to have all the rights associated with those 2020 notes.

The settlement date for the tender offer is currently expected to be no later than April 16.

In the same statement, 21Vianet also said it has priced the offering of $300 million in aggregate principal amount of the USD-denominated notes due 2021 at an interest rate of 7.875% per annum.