In July 2019, Bright Scholar Education Holdings Limited (“Bright Scholar”, NYSE: BEDU) successfully issued USD 300 million dollars worth of bonds.
Bright Scholar is the largest private operator of international and bilingual K-12 schools in China. As of the date of the trade announcement of this issuance, Bright Scholar operates almost 80 primary and middle schools and kindergartens within and outside China.
Before this issuance, JunHe acted as domestic legal counsel for Bright Scholar and assisted it in its IPO on the New York Stock Exchange in July 2017 and its subsequent offering in March 2018.
In the project, JunHe, as domestic legal counsel for the issuer, conducted legal due diligence, issued legal opinions from the perspective of PRC laws, reviewed and modified transaction documents, and provided legal services in respect to the issues relating to PRC laws involved in the project through the whole process. During the course of the project, several material adjustments to regulatory policy and requirements were made by the state in respect to issues relating to primary and middle schools, kindergartens and their operations. JunHe formulated feasible solutions to these issues, based on its unique understanding of the legal issues in the education industry and the disclosure requirements for projects of bond issuance, and assisted in the successful completion of the project.
The leading partners for the project were YU, Yongqiang (YY), ZHANG, Ping, WANG, Wei and YU, Su.