New Oriental Education repurchase tally now at $75.5 million

By William Gullotti

Buffalo, N.Y., Nov. 19 – China’s New Oriental Education & Technology Group Inc. announced it repurchased more of its 2 1/8% bonds due 2025, according to 6-K filed with the Securities and Exchange Commission on Friday.

The company has now repurchased $75.5 million, or 25.2% of the initial principal amount of the bonds, which were listed on the Hong Kong Stock Exchange on July 13, 2020.

After cancellation of the repurchased bonds, there will be $224.5 million, or 74.8% of the issue, outstanding.

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

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