VNET Proposes Offering Of Senior Notes

VNET Group Inc (NASDAQ:VNET) proposes to raise an undisclosed amount via senior note offering.
VNET is a carrier-neutral and cloud-neutral data center services provider in China.
The offering proceeds will help to fund future capital needs and general corporate purposes.
The notes are likely to be rated B2 by Moody's and B by S&P.
VNET held $246.8 million in long-term borrowings and $733 million in convertible promissory notes as of June 30.
Price Action: VNET shares traded higher by 3.12% at $17.19 in the premarket session on the last check Friday.