40811 - China YuHua Education Corporation Limited

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Summary of Investment Information

Project Number

40811

Company Name

CHINA YUHUA EDUCATION CORPORATION LIMITED

Date SPI Disclosed

Jun 5, 2018

Country

China

Region

East Asia and the Pacific

Projected Board Date

May 24, 2018

Environmental Category

B - Limited

Status

Active

Last Updated Date

Feb 6, 2019

Department

Regional Industry - MAS Asia & Pac

Industry

Health, Education and Life Sciences

Previous Events

Approved : May 24, 2018
Signed : May 30, 2018
Invested : Feb 1, 2019

Sector

Colleges, Universities, and Professional Schools

Project Description

China YuHua Education Corporation Limited (YuHua or the Company) is China’s largest integrated private education company, with over 82,000 students enrolled in its tertiary and K-12 education institutions operating in China’s frontier regions of Henan and Hunan provinces. Also, with approximately 57,000 university students and linkages with more than 500 potential employers, YuHua is one of China’s largest private university operators. The Company is expanding its tertiary education segment with a total expected cost of up to US$400 million, which comprises acquisitions of three universities in China over the next three years, as well as capital expenditures to upgrade and expand these newly acquired schools (the Project).

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	75.0
Equity	0.0

Development Impact

1. Increase access to quality tertiary education: The Project will increase access to quality private undergraduate and vocational education in frontier regions of China. 2. Improve students' employability and competitiveness: Through its focus on applied curriculum, YuHua strives to achieve a high level of employment and competitiveness for its university students, equipping them with practical knowledge and experience. 3. Demonstration effect: Through the Project, YuHua is raising the bar for quality tertiary education in China, demonstrating that employment-linked tertiary education model can be financially sustainable.

1. Long-term financing and resource mobilization: IFC will provide long-term debt financing, including the mobilization of a B Loan, to the Company, which has limited debt financing options as education assets cannot be pledged to lenders in China. 2. Global industry experience and network: IFC will share best practices in different areas of operations and more importantly, the Company will join IFC's global network of education clients - a valuable platform for the Company to explore international collaboration opportunities. 3. E&S best practices: IFC will share international E&S best practices with the Company including in the area of life and fire safety. The team will also explore energy efficiency opportunities with the Company.

E&S Category Rationale / Risks and Mitigation

The investment has been classified as Category B according to IFC’s Policy on Social and Environmental Sustainability as adverse environmental and social risks and impacts arising from the projects are limited, generally site specific and could be addressed through the implementation of Good International Industry Practice (GIIP). Key issues and impacts identified during appraisal, discussed in more detail in the following paragraphs, include: E&S management system development and implementation in existing assets and future schools; labor and working conditions including occupational health and safety during construction and operation; waste management; energy and water savings; and community health and safety including life and fire safety management associated with the schools as these are public access buildings

Contacts

For Inquiries About the Project, Contact

China YuHua Education Corporation Limited
Bin Xu
Chief Financial Officer
+86 0371 60673938
xubin@yuhuachina.com
No 21, Beida Huayuan, 4th Floo Block 10, 3 Mazhuang Street Zhengzhou China
http://www.yuhuachina.com/

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Telephone: 202-473-3800
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Local Access of Project Documentation

China YuHua Education Corporation Limited

No 21, Beida Huayuan, 4th Floor Block 10, 3 Mazhuang Street Zhengzhou China

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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