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China’s TAL holders forgo put option on $225 million 2.5% convertibles
By Susanna Moon
Chicago, May 15 – TAL Education Group reported no tenders in the put offer for its $224,999,000 principal amount of 2.5% convertible senior notes due 2019.
The put option expired at 5 p.m. ET on May 12, according to a company update on Monday.
Holders could exercise the put at par for repurchase on May 15, according to a company announcement on April 13.
TAL is a Beijing-based provider of after-school tutoring services.
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