ASIA-PACIFIC

摘要

Tutoring services provider tal education group has sealed an increased US$400m three-year debut loan, with 20 banks joining in general syndication. Deutsche Bank is the sole mandated lead arranger and bookrunner of the bullet facility, which initially had a base size of US$200m with a greenshoe of US$100m. The transaction offered a top level all-in pricing of 290bp based on an interest margin of 250bp over Libor. Proceeds will fund the New York-listed company's expansion plans. TAL Education provides after-school tutoring programmes for primary and secondary school students in China. The company has a market capitalisation of US$4.33bn.