CHINA EDU GROUP (00839) has announced plans for a bond issuance. The company has entered into a subscription agreement with joint lead managers for the issuance of bonds with a total principal amount of USD 200 million.
The bonds are scheduled to mature on June 24, 2029. The issuance price is set at 98.963% of the principal amount, and the bonds will carry an annual interest rate of 5.625%.
The net proceeds from the issuance are expected to be approximately USD 198 million. The company intends to use these funds for refinancing purposes and general corporate needs, which may include capital expenditures and working capital requirements.
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