Singapore’s Overseas Education buys back some 5.2% bonds due 2019

By Marisa Wong

Morgantown, W.Va., April 10 – Overseas Education Ltd. said it has repurchased a total of S$6 million of its 5.2% bonds due 2019.

The company bought back S$1 million on Nov. 27 and S$5 million on April 10.

Following cancellation of the repurchased bonds, S$130 million of the original S$150 million principal amount remains outstanding. The company had repurchased some of the bonds in September 2016 and May 2017.

The company said the latest buyback resulted in net interest savings of about S$368,000.

The repurchase was funded by internal resources.

The private foreign school system is based in Singapore.

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