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New Oriental Education buys back a portion of 2 1/8% bonds due 2025
By Rebecca Melvin
Concord, N.H., Nov. 2 – China’s New Oriental Education & Technology Group Inc. announced it repurchased $31 million of its 2 1/8% bonds due 2025 on Tuesday, according to 6-K filed with the Securities and Exchange Commission.
The partial repurchase represented 10.3% of the principal amount of the bonds, which were listed on the Hong Kong Stock Exchange in July 2020.
After cancellation of the repurchased bonds, there will be $269 million, or 89.7% of the issue, remaining outstanding.
The private educational services company in China is based in Beijing.
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