VNET Group prices offering of $430M convertible senior notes due 2030

VNET Group (VNET) announced the pricing of its offering of $430M in aggregate principal amount of 2.50% convertible senior notes due 2030. The Notes Offering is expected to close on or about March 17, subject to the satisfaction of customary closing conditions. The Notes will bear interest at a rate of 2.50% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The Notes will be senior, unsecured obligations of the company. The Notes will mature on April 1, 2030 unless earlier repurchased, redeemed or converted in accordance with the terms of the Notes prior to such date.