Hope Education’s $350 Million Convertible Bonds Offering

Simpson Thacher represented Hope Education Group, together with Maples and Calder, and Tequ Mayflower in the transaction.

Hope Education Group Co., Ltd. (“Hope Education”) (HKEX: 1765) acted as guarantor, and Tequ Mayflower Limited, a wholly-owned subsidiary of Hope Education, as Issuer, for the US$350 million Zero Coupon Guaranteed Convertible Bonds due 2026 (“Bonds”), and the placing of existing shares and top up subscription of new shares. The Bonds are unconditionally and irrevocably guaranteed by Hope Education. Credit Suisse acted as the sole bookrunner and sole manager.

Hope Education is one of the largest private education groups in China, committed to providing quality education and professional training to students with an aim to equipping them with the knowledge and skills desired in employment markets.

The Simpson Thacher team for the offering included Yi Gao (Picture), Howie Farn, June Hu and Linfeng Zhu (Capital Markets).

The Maples team was led by partner Derrick Kan.

Involved fees earner: Derrick Kan – Maples and Calder; Howie Farn – Simpson Thacher & Bartlett; Yi Gao – Simpson Thacher & Bartlett; June Hu – Simpson Thacher & Bartlett; Linfeng Zhu – Simpson Thacher & Bartlett;

Law Firms: Maples and Calder; Simpson Thacher & Bartlett;

Clients: Hope Education Group Co., Ltd.; Tequ Mayflower;

Author: Sonia Carcano