VNET Sets New Benchmark in IDC Industry with First Holding-Type Real Estate Green Asset-Backed Security in China

VNET Group, a Chinese internet data center services provider, has successfully issued a holding-type real estate green asset-backed security under its private REIT project. The project, which will be listed on the Shanghai Stock Exchange, marks a first in China's IDC industry and allows VNET to revitalize existing IDC assets, recycle capital, and reduce leverage. The overall offering size is approximately RMB860 million, with equity consideration of approximately RMB800 million.