SINGAPORE, Dec. 12, 2019 /PRNewswire/ -- Nexus International
School (Singapore) is pleased to
announce the issuance of SGD 150
million of twelve-year amortizing bonds which have been
rated AA by S&P Global Ratings (S&P). The bonds are
guaranteed by Credit Guarantee and Investment Facility (CGIF), a
trust fund of the Asian Development Bank. Standard Chartered Bank
Singapore Limited (SC) acted as the sole lead manager of the
bonds.
Nexus is a leading Foreign System School (FSS) in Singapore that caters to students from Nursery
up to Year 13 (ages 3 to 18).
The bonds have been subscribed to by a robust set of onshore and
offshore investors. Proceeds of the bonds will be used to
finance the school's newly-completed flagship campus in Aljunied,
Singapore. Designed by Broadway
Malyan, the 2,000-student campus showcases innovative, open plan
classroom designs which particularly enable students to develop
21st Century skills such as collaboration and critical
thinking. As an example, learning spaces have integrated
makerspaces and design technology rooms to integrate STEAM into
subjects. The school features a cutting-edge mega science lab for
future scientists and a mock boardroom for budding entrepreneurs.
Younger children have a double-storey treehouse for both play and
lesson times. Extra-curricular activities benefit from an
auditorium, fitness suite, yoga studio, a FIFA and World
Rugby specified artificial turf pitch, and an Olympic-sized
swimming pool.
Karl Engkvist, President of
Taylor's Education Pte Ltd, stated, "Taylor's Education Group, of
which Nexus is a key member, has been widely recognized as an
innovator across our network of universities, college, and schools
in Singapore, Malaysia and Vietnam. Our valued partners at CGIF and SC
developed this advanced financing structure to support the
long-term success of the school."
BK Gan, President of Taylor's Schools, elaborated, "Since Nexus'
entry into the Singapore
international school market in 2011, the school has established
itself as a reputable, premium institution, recognised for its
inventive and original education. We are extremely proud that we
won the RFI quality bid for the centrally-located land in Aljunied
amidst stiff competition. Our learners, parents and staff are
excited to move in to our new state-of-the-art campus next month.
We sincerely appreciate the Singapore government's support and counsel in
bringing our vision for Nexus to fruition," BK Gan, President of
Taylor's Schools.
Ms. Guiying Sun, CEO of
CGIF stated, "This achievement marks CGIF's growing role and
evolution as a regional guarantor - It is our longest
guarantee tenor to date, our first counter-guaranteed
risk-sharing collaboration with an arranger, and CGIF's first
guarantee for the education sector. The amortizing bond
structure demonstrates our innovative and solutions-based approach
to simultaneously accomplish optimum structuring and bond market
development. The cross-border investor base is indicative of
CGIF's strong market acceptance and this translates to cost savings
for the issuer. We are very delighted to facilitate the Group's
debut issuance and partner with Taylor's Education Group in its
ASEAN expansion."
Global Head of Commercial Banking at Standard Chartered Bank
(SC), Mr. Jiten Arora stated,
"Standard Chartered is very proud to have led the inaugural capital
markets transaction of Taylor's Education Group. As the Sole Lead
Manager for the bonds issuance by Nexus, SC was able to collaborate
with CGIF and the Issuer Group to come up with an innovative deal
structure that achieved the key objectives of both the Issuer and
the Guarantor. This demonstrates the strength of the Bank's ASEAN
platform, commitment to our clients, and our leading Debt Capital
Market expertise."
More than 2,000 parents and students attended the recent 'Sneak
Peak' of the campus, and Nexus is now accepting enrolments for the
coming semester, which will begin on 13
January 2020.
About Taylor's Education Group
Taylor's Education Group is one of Southeast Asia's premier private education
groups. Included among the higher education institutions it owns
and operates are Taylor's University (recently ranked
109th among Asia's
universities by QS), Taylor's College (which earlier this year
celebrated its 50th Anniversary), and British University
Vietnam (the first and only International
University in Vietnam
dedicated to offering Honours British degrees).
Taylor's Schools consist of Garden International School, one of
the top British curriculum schools in Malaysia, Taylor's International Schools with
two campuses in the Klang Valley, Australian International School
Malaysia, and Nexus International Schools in Malaysia and Singapore. In total, the group educates more
than 20,000 students per year.
About Nexus International School (Singapore)
Nexus offers an accredited international curriculum catering
from Nursery to IBDP (International Baccalaureate Diploma
Programme). We firmly believe in putting your child at the centre
of his or her education. Our child-centred philosophy is echoed by
every teacher, in every class and in every extra-curricular
activity. We strive to ensure that your child has a world class
education; internationally recognised and accredited by the most
respected awarding bodies.
About CGIF
CGIF is a multilateral facility established by the Association
of Southeast Asian Nations ("ASEAN") members, China, Japan,
Korea ("ASEAN+3") and Asian Development Bank ("ADB"). It is
established as a trust fund of ADB with paid-in capital of
USD1.05 billion from its
Contributors. As a key component of the Asian Bond Markets
Initiative, CGIF was established to develop and strengthen local
currency and regional bond markets in the ASEAN+3 region. CGIF
commenced its guarantee operations on 1 May
2012 and seeks to provide credit enhancements, mainly in
local currencies, issued by credit worthy ASEAN+3-domiciled bond
issuers.
About SCB
Standard Chartered Bank is a leading international bank, with a
history of more than 150 years in some of the world's most dynamic
markets and a focus on driving investment, trade and the creation
of wealth across Asia,
Africa and the Middle East.
Contact Info:
Monique Retief
Head Of Marketing
Nexus International School Singapore
T: +65-6536-6566
manager.marketing@nexus.edu.sg
https://www.nexus.edu.sg
https://www.taylors.edu.my/
Photo -
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