YuHua Education prints $259m CB to fund buyback

school 230-150x
By Jonathan Breen
04 Dec 2019

China YuHua Education Corp has bagged HK$2.02bn ($259m) from a convertible bond, printed in part to fund the buyback of its existing CB, according to a source familiar with the matter.

YuHua launched the deal on Tuesday evening in Hong Kong, looking to raise HK$2bn from an issue of five year notes. The paper was on offer with a 0% to 0.9% coupon and 32.5% to 40% conversion premium over the reference share price.

The reference price will be ...

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