• Sunday, 18 August 2019

Bright Scholar Announces Pricing of its USUSD 300 million 7.45pc Senior Notes Due 2022


FOSHAN, China: Bright Scholar Education Holdings Limited (Bright Scholar, the Company, we or our) (NYSE: BEDU), the largest operator of international and bilingual K-12 schools in China*, today announced that the Company has priced the offering of USUSD 300 million in the aggregate principal amount of its 7.45pc of senior notes due 2022 (the Notes) at an issue price of 100.0pc .

The Notes are being offered outside the United States in reliance on Regulation S under the Securities Act of 1933, as amended (the Securities Act). The Notes are proposed to be issued by the Company and guaranteed by certain of the Company's subsidiaries incorporated outside the People's Republic of China.

The Notes offering is expected to close on or about July 31, 2019, subject to customary closing conditions.

The Company plans to use the net proceeds from the Notes offering to finance its overseas business expansion, repay the promissory note, and for general corporate purposes.

This is our first bond offering as a public company, said Jerry He, Executive Vice Chairman of Bright Scholar. The access to the bond market backed by strong cash flow from our operations enables us to further pursue opportunities overseas, accelerate our growth as a global premium education service provider and enhance the value to our shareholders.

Application will be made to The Stock Exchange of Hong Kong Limited (The Hong Kong Stock Exchange) for the listing of the Notes by way of debt issues to professional investors (as defined in Chapter 37 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and in the Securities and Futures Ordinance (Cap. 571) of Hong Kong) (together, Professional Investors) only. Investors should not purchase the Notes in the primary or secondary markets unless they are Professional Investors and understand the risks involved. Listing of the Notes on the Hong Kong Stock Exchange is not to be taken as an indication of the commercial merits or credit quality of the Notes, the Company and its subsidiaries or affiliated entities.

The Notes have not been and will not be registered under the Securities Act, or any state securities laws. The Notes are being offered and sold only outside the United States in offshore transactions in accordance with Regulation S under the U.S. Securities Act.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of the Notes, in the United States or elsewhere, and shall not constitute an offer, solicitation or sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. No public offering of the Notes will be made in the United States, and the Company does not intend to register any part of the offering in the United States.

This press release contains information about the pending offering of the Notes, and there can be no assurance that the Notes offering will be completed.

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Bright Scholar Announces Pricing of its USUSD 300 million 7.45pc Senior Notes Due 2022

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