Eduniversal mulls add-on to 2% mandatory convertibles

By Susanna Moon

Chicago, April 12 – Eduniversal SA said it is considering a tap issue of its 2% mandatory convertible notes under Regulation S.

Eduniversal would issue the add-on notes with a principal amount of up to €200,000 with a nominal value of €100,000 each, increasing the total aggregate principal amount of the notes up to €3.2 million, according to a press release.

The additional notes will be issued at an offer price to be determined by a bookbuilding process.

Proceeds will be used to fund growth.

The company said it intends to apply to list the add-ons for trading on the Free Market of Euronext Paris.

The add-on notes will be placed only to institutional investors in some European countries in a Regulation S private placement.

The add-on issue will be merged with the existing notes and form a single series under the existing ISIN FR0012979524, the release noted.

Courbevoie, France-based Eduniversal is a ranking and rating agency focused on higher education.

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