Yuhua replenishes M&A funding with $120m CB

Despite the regulatory risks that surround China’s education sector, the private school operator manages to close the year's first convertible bond sale in Asia ex-Japan.

Yuhua replenishes M&A funding with $120m CB

China Yuhua Education has defied the bearish sentiment around the education sector by raising HK$940 million $120 million from the issue of a short-dated convertible bond on Wednesday in what is widely perceived as a pre-placed deal.

Two years after its initial public offering in Hong Kong, the Henan-based private school operator created a buzz among bond investors because it is one of the first companies from the education sector to issue a...

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