China’s New Oriental Education repurchases more 2 1/8% bonds due 2025

By Rebecca Melvin

Concord, N.H., April 1 – New Oriental Education & Technology Group Inc. provided an update about a further buyback of its 2 1/8% bonds due 2025, according to a 6-K filing with the Securities and Exchange Commission.

The company has now repurchased $210.53 million of the original $300 million of the bonds, representing 70.2% of the original issue size.

After the repurchased bonds are canceled, there will be $89.47 million, or 29.8%, of the bonds outstanding.

The private educational services company is based in Beijing.

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