GDS Holdings has announced that it raised $620 million through convertible notes. The Chinese data center firm revealed that it entered into a deal to sell convertible senior notes worth $620 million to ST Telemedia Global Data Centres, Sequoia China Infrastructure Fund I (SCIF), and an Asian Sovereign wealth fund with a strategic relationship with GDS Holdings. GDS said it plans to use the proceeds from the funds raised to develop and acquire new data centers. It also wants to use it for working capital needs and general corporate purposes.
In addition, Sequoia and GDS entered into a strategic agreement to identify and pursue business opportunities. Both companies aim to acquire data centers and develop and implement GDS’s regionalization strategy. The CEO of GDS, William Huang, said he was happy to secure the needed capital to support the company's growth. He added that the company is grateful for the continued support from investors.
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