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New Oriental Education buys back additional 2 1/8% bonds due 2025
By William Gullotti
Buffalo, N.Y., Nov. 12 – China’s New Oriental Education & Technology Group Inc. announced it repurchased more of its 2 1/8% bonds due 2025 on Thursday, according to 6-K filed with the Securities and Exchange Commission.
The company has now repurchased $64.5 million, or 21.5% 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 $235.5 million, or 78.5% of the issue, outstanding.
The private educational services company in China is based in Beijing.
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