CHINA EDU GROUP to Issue USD 200 Million in Bonds

Stock News06-17

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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment