| Issuer / Guarantor | VNET Group Inc |
|---|---|
| Size | USD 250mn |
| Type | Convertible |
| Leads | Citigroup, Morgan Stanley |
| Maturity | 01 Oct 2027 (1.6 years) |
| Coupon | 2% (2%) |
| Premium | % (-20%) |
| Calls | NC0; PC @ 130% w table MW |
| Puts | 1yrs @ 108.05% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | Make-whole table |
| CoCo | None |
| Announced | 13 Feb 2026 |