On February 23, 2023, Chinadata Group Holdings Limited (CD Group, NASDAQ: CD) successfully offered senior unsecured bonds in a total amount of US$ 300 million and with a maturity of three years (the Project). This was the first high-yield bond offering by CD Group and the first offshore bond offering by a Chinese issuer since August 2021. The net proceeds derived from the Project will be used to invest in data centers in emerging China and Asia Pacific markets, supplement working capital, and invest in research and development activities.
CD Group is a leading neutral third-party hyperscale data center solution operator in emerging Asia Pacific markets and a pioneer in building next generation hyperscale data centers in China, India and Southeast Asia. It focuses on the planning, investment, design, construction and operation of eco-infrastructure in the IT industry. The issuer, CD Group, and the bond issuance were both rated “BBB-” by Fitch, one of the world’s top three international rating agencies, which is currently the highest rating in China’s data center industry.
JunHe acted as the PRC counsel of the underwriter in this Project.
The Project was led by JunHe partners YU, Yongqiang (YY) and LEI, Tianxiao, and JunHe partner YE, Junli was responsible for the internal review.