China’s New Oriental Education buys back more 2 1/8% bonds

By Rebecca Melvin

Concord, N.H., Jan. 26 – New Oriental Education & Technology Group Inc. announced it repurchased $171,577,000 more of its 2 1/8% bonds due 2025 on Wednesday, according to a 6-K filed with the Securities and Exchange Commission on Wednesday.

The company has now bought back 57.2% of the issue. The last buyback was on Jan. 19 for $150,577,000 of the bonds, when 50.2% of the $300 million principal amount issued had been repurchased.

The notes were listed on the Stock Exchange of Hong Kong Ltd. on July 13, 2020.

After cancellation of the most recently repurchased bonds, there will be $128,423,000, or 42.8%, of the bonds outstanding.

The private educational services company is based in Beijing.

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