Lates News

Wanguo Data Announcement Corporation completed the issuance of $550 million in convertible preferred bonds due in 2032 on May 30, 2025. The initial purchasers exercised their option to purchase an additional $50 million in bond principal. The net proceeds received by the company, about $535 million, will be used for working capital needs and refinancing of existing debts, including possible future repurchases or redemptions of the convertible bonds due in 2029 if investors exercise their put options. The bonds are senior unsecured obligations of Wanguo Data with an annual interest rate of 2.25%, payable semi-annually on June 1st and December 1st starting from December 1, 2025. The bonds will mature on June 1, 2032, unless redeemed, repurchased, or converted earlier in accordance with their terms.