By Wendy Van Sickle
Columbus, Ohio, July 24 – Bright Scholar Education Holdings Ltd. priced $300 million of 7.45% senior notes (Ba3//BB-) due 2022 at par on Wednesday, according to a news release.
Proceeds of the Regulation S offering, which is the company’s first bond offering as a public company, will be used to finance its overseas business expansion, to repay a promissory note and for general corporate purposes.
The notes are proposed to be guaranteed by some of the company’s subsidiaries incorporated outside China.
Bright Scholar is a Foshan, China-based operator of international and bilingual K-12 schools in China.
| Issuer: | Bright Scholar Education Holdings Ltd.
|
| Issue: | Senior notes
|
| Amount: | $300 million
|
| Maturity: | 2022
|
| Coupon: | 7.45%
|
| Price: | Par
|
| Yield: | 7.45%
|
| Pricing date: | July 24
|
| Settlement date: | July 31
|
| Ratings: | Moody’s: Ba3
|
| Fitch: BB-
|
| Distribution: | Regulation S
|
|
|
© 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.
