New Oriental Education buys back a portion of 2 1/8% bonds due 2025

By Mary-Katherine Stinson

Lexington, Ky., Nov. 8 – China’s New Oriental Education & Technology Group Inc. announced it repurchased $46.5 million of its 2 1/8% bonds due 2025 on Monday, according to a 6-K filed with the Securities and Exchange Commission.

The partial repurchase represented 15.5% of the originally issued $300 million principal amount of the bonds, which were listed on the Hong Kong Stock Exchange in July 2020.

The repurchased bonds will be canceled in accordance with the terms of the bonds, the trust deed and the agency agreement.

After the cancellation of the repurchased bonds, there will be $253.5 million, or 84.5% of the issue, remaining outstanding.

The private educational services company in China is based in Beijing.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.