Puxin Limited Announces a Loan of US$26 Million
Puxin Limited American Depositary Shares, each representing two Ordinary Shares (NEW)
Company Research
Source: PR Newswire
BEIJING, Sept. 19, 2019 /PRNewswire/ -- Puxin Limited (NYSE: NEW) ("Puxin" or the "Company"), a successful consolidator of the after-school education industry in China, today announced that it has entered into a loan agreement, deed of trust note and other ancillary documents with American Hebrew Academy, Inc. ("AHA"), a North Carolina non-for-profit corporation, pursuant to which Puxin extended a loan in a principal amount of US$26 million to AHA to fund its operations of an international college prep boarding school in North Carolina, the United States. The loan bears an interest rate of 18.0% per annum and becomes due on September 6, 2020. The loan is secured by AHA's interest in certain real property located in North Carolina.About Puxin LimitedPuxin Limited ("Puxin" or the "Company") is a successful consolidator of the after-school education industry in China. Puxin has a strong acquisition and integration expertise to effectively improve education quality and operational perform
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