Henderson Land Development is seeking to raise $1 billion from the sale of convertible bonds https://t.co/YiYlU55aZD ...

SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) -- GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualifie ...

Core Viewpoint - Euronext has launched an offering of €425 million in senior unsecured bonds due 2032, which are convertible into new shares and/or exchangeable for existing shares, aimed at qualified investors only [1][11]. Group 1: Offering Details - The nominal amount of the bond offering is €425 million, and the bonds will be issued with a denomination of €100,000 each [1][3]. - The bonds are expected to pay a fixed coupon rate between 1.5% and 2.0% per annum, payable semi-annually [3]. - The initial conversion price will be set between 30% and 35% above the reference share price on Euronext Paris [4]. Group 2: Use of Proceeds - The net proceeds from the bond offering will be used to repay a portion of a bridge loan facility used for the acquisition of Admincontrol and for general corporate purposes [2]. Group 3: Redemption and Conversion Rights - The bonds will be redeemed at par on 30 May 2032 unless previously converted, exchanged, redeemed, or purchased and cancelled [5]. - Bondholders will have the right to convert or exchange the bonds into new and/or existing shares from the 41st day after the issue date until 7 business days before the maturity date [7]. - The conversion ratio will be based on the principal amount divided by the initial conversion price, with standard adjustments for anti-dilution and dividend protections [8]. Group 4: Market and Shareholder Information - The bonds will be placed with qualified investors only, excluding public offers in certain jurisdictions [11][17]. - Existing shareholders will not have preferential subscription rights in connection with the bond issuance [12]. - The company is not aware of any intentions from its main shareholders to participate in the offering [13]. Group 5: Lock-up and Dilution - The company will agree to a lock-up undertaking regarding its shares for a period starting from the announcement of the final terms of the bonds and ending 90 days after the issue date [14]. - The potential dilution from the bond conversion, assuming a nominal amount of €425 million and a reference share price of €145.0, would represent approximately 2.1% of the company's outstanding share capital [15].

Core Viewpoint - VINCI is launching a tap issue of non-dilutive convertible bonds for a nominal amount of €125 million, which may be increased to €150 million, to be fully assimilated with its existing €400 million non-dilutive convertible bonds due February 2030 [1][2] Group 1: Bond Issuance Details - The New Bonds will be issued on the same terms as the Original Bonds, with the exception of the issue date and price, and will be fully fungible with the Original Bonds upon settlement [2] - The initial issue price of the New Bonds is expected to be between 106.450% and 106.950% of their nominal value, with the final price to be announced on 30 April 2025 [5] - The settlement and delivery date for the New Bonds is anticipated to be on 6 May 2025 [6] Group 2: Use of Proceeds - The net proceeds from the issuance of the New Bonds will be utilized for general corporate purposes and the purchase of new cash-settled call options on VINCI's shares [4][3] Group 3: Market and Regulatory Context - The New Bonds will be offered through an accelerated book building process to institutional investors only, with no public offering in certain jurisdictions including the United States, Australia, South Africa, Canada, and Japan [9][18] - VINCI will agree to a lock-up undertaking regarding its shares and equity-linked securities for a period ending 60 days after the settlement date of the New Bonds [8]