TAL Education Group, China’s after-school tutoring company, announced that it is raising around $3.3 billion from a group of investors through a private placement. TAL Education (TAL) said that out of the total amount, $2.3 billion is in convertible notes, led by Silver Lake investor, while $1 billion is the equity portion raised through the newly issued class A common shares of the company. The transaction is likely to close in the near term, the company said. “Immediately following the closing of the transaction, assuming the conversion of the entire Convertible Notes Portion into shares, the Convertible Notes Portion and the Equity Portion will account for 4.3% and 2.
https://www.tipranks.com/news/tal-education-to-raise-3-3b-via-private-placement-street-sees-27-upside
Tal Education (NYSE:TAL)
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