3 July, 2020
Skadden advised New Oriental Education & Technology Group, the largest provider of private educational services in China, on its offering of US$ 300 million aggregate principal amount of its 2.125% notes due 2025.
The notes are being offered outside the United States in reliance on Regulation S under the Securities Act of 1933, as amended, and are expected to be listed on the Hong Kong Stock Exchange.
New Oriental Education & Technology Group expects to receive net proceeds of approximately US$ 297.1 million, after deducting joint bookrunners commissions and estimated offering expenses. The proceeds will be used for general corporate purposes.
The Skadden team was led by partners Julie Gao (Hong Kong), Jonathan Stone (Hong Kong), Haiping Li (Shanghai), Alex Jupp (London), and Danny Tricot (London), with Asia Pacific Counsel Vincent Sze (Hong Kong), and associatesSophie Zhao (Hong Kong), and John Zhiyuan Cai (Beijing).