The British International Schools Group, Vietnam Joins Nord Anglia Education
HONG KONG, March 2, 2015 /PRNewswire/ -- Nord Anglia Education, the world's leading operator of premium schools, is pleased to announce that the British International Schools Group, Vietnam today joined its network of schools.
In connection with the transaction and for general corporate purposes, Nord Anglia Education incurred US$150 million of incremental loans under its existing secured term loan facility. Nord Anglia Education's pro forma net leverage at November 30, 2014 including BIS Vietnam and the US$150 million incremental term loans would have been 3.6x Adjusted EBITDA.
Andrew Fitzmaurice, CEO of Nord Anglia Education, commented, "We are very pleased to welcome the students, parents and staff of the British International Schools Group, Vietnam into our family of schools. We believe this represents an exciting development for both Nord Anglia Education and BIS Vietnam and look forward to working with the schools' leadership team to build upon the schools' impressive progress providing families in Vietnam with access to world class international education."
Nord Anglia Education is the world's leading premium schools organization. The addition of BIS Vietnam expands the group's global network to a total of 35 international schools, providing an outstanding education to over 23,600 students across 14 countries.
Forward-Looking Statements
This press release includes statements that express our current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward looking statements". These forward looking statements can generally be identified by the use of forward-looking terminology, including the terms "believe," "expect," "may," "will," "should," "seek," "project," "approximately," "intend," "plan," "estimate" or "anticipate," or, in each case, their negatives or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning among other things, our future enrollments, acquisitions and strategies.
By their nature, forward-looking statements relate to events that involve risks and uncertainties or that depend on circumstances that may or may not occur in the future. We believe that these risks and uncertainties include, but are not limited to, those under "Risk Factors" in our most recent Annual Report on Form 20-F filed with the SEC.
Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those made in or suggested by the forward-looking statements contained in this press release. Any forward-looking statement that we make in this press release speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.
About Nord Anglia Education, Inc.
Nord Anglia Education is the world's leading international operator of premium schools, serving students from kindergarten through the end of secondary school (K-12). We teach over 23,600 students at our 35 premium schools in China, Europe, the Middle East and Southeast Asia and North America. We primarily operate in geographic markets with high foreign direct investment, large expatriate populations and rising disposable income. We believe that these factors contribute to high demand for premium schools and strong growth in our business. Nord Anglia Education is headquartered in Hong Kong SAR, China. Our website is www.nordangliaeducation.com
For further information, please contact:
Investors:
Vanessa Cardonnel
Corporate Finance and Investor Relations Director - Nord Anglia Education
Tel: +852 3951 1130
Email: [email protected]
Kevin Doherty
Director, Investor Relations - Solebury Communications Group LLC
Tel: +1 203 428 3233
Email: [email protected]
Media:
Sarah Doyle
Head of Brand – Nord Anglia Education
Tel: +852 3951 1144
Email: [email protected]
SOURCE Nord Anglia Education, Inc.
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