Gds prices offering of us$500 million convertible senior notes

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 pricing of its previously announced offering (the “notes offering”) of 2.25% convertible senior notes in an aggregate principal amount of us$500 million due 2032 (the “notes”). the size of the offering was increased from the previously announced $450 million aggregate principal amount of notes. the notes have been offered in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to rule 144a under the securities act of 1933, as amended (the “securities act”). the company has granted the initial purchasers in the notes offering an option to purchase up to an additional us$50 million in aggregate principal amount of the notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the notes are issued. the company expects to close the notes offering on or about may 30, 2025, subject to the satisfaction of customary closing conditions.
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