BEIJING, Aug. 27,
2021 /PRNewswire/ -- TAL Education Group ("TAL"
or the "Company") (NYSE: TAL) today announced that the Company has
entered into definitive agreements with the holders of its existing
0.50% Convertible Senior Notes due 2026 (the "2026 Notes") to
repurchase the 2026 Notes (the "Repurchases"). The aggregate
purchase price for the Repurchases will be an amount of cash equal
to the sum of (i) $2.3 billion, the
aggregate principal amount of the 2026 Notes, and (ii) accrued and
unpaid interest calculated based on an interest rate of 0.50% per
annum. The Repurchases are expected to be consummated in one or
more closings by the end of December
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
The Company may also make written or oral forward-looking
statements in its reports filed with, or furnished to,
the U.S. Securities and Exchange Commission, in its annual
reports to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about the Company's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Information
regarding these risks and uncertainties is included in the
Company's reports filed with, or furnished to the U.S.
Securities and Exchange Commission. All information provided in
this press release is as of the date of this press release,
and TAL Education Group undertakes no duty to update such
information or any forward-looking statement, except as required
under applicable law.
About TAL Education Group
TAL Education Group is a leading K-12 after-school tutoring
services provider in China. The
acronym "TAL" stands for "Tomorrow Advancing Life", which reflects
our vision to promote top learning opportunities for Chinese
students through both high-quality teaching and content, as well as
leading edge application of technology in the education experience.
TAL Education Group offers comprehensive tutoring services to
students from pre-school to the twelfth grade through three
flexible class formats: small classes, personalized premium
services, and online courses. Our tutoring services cover the core
academic subjects in China's
school curriculum as well as competence oriented programs. The
Company's learning center network currently covers 110 cities. We
also operate www.jzb.com, a leading online education platform in
China. Our ADSs trade on the New
York Stock Exchange under the symbol "TAL".
For further information, please contact:
TAL Education Group
Tel: +86 10 5292 6658
SOURCE TAL Education Group