SYDNEY, May 28 (Reuters) - Chinese data centre group GDS Holdings 9698.HK, GDS.O has launched an up to $581 million convertible bond and capital raising, according to a regulatory filing.
The company is issuing a $450 million seven-year convertible bond with a coupon range of between 2% and 2.5%, a term sheet reviewed by Reuters showed.
There is an $50 million greenshoe option that could increase the size of the convertible bond, the term sheet said.
GDS, which is listed on the Nasdaq and in Hong Kong, is also selling 5.2 million American Depository Shares $(ADS.AU)$ to raise up to $131 million.
The shares are being offered at $24.25 to $25.25 each, the term sheet said.
GDS's Nasdaq shares closed down 4.8% on Tuesday.
The company said it plans to use the money raised for working capital and to pay down existing debt.
(Reporting by Scott Murdoch; Editing by Tom Hogue)
((Scott.Murdoch@thomsonreuters.com;))
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