YuHua Education tees up HK$800m CB

China YuHua Education Corp has launched bookbuilding for a sub-one year convertible bond that could raise up to HK$800m ($102.1m).

  • By Jonathan Breen
  • 09 Jan 2019

Sole bookrunner Bank of America Merrill Lynch is marketing the CB with a 2.5% to 3% yield and a conversion premium of 20% to 25% over YuHua’s Wednesday close at HK$3.09 per share.

The issuer plans to use 80% of the proceeds from the deal to fund potential ...

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