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Pearson PLC Tender Offer for Pearson Funding Five plc

Dow Jones Newswires

TIDMPSON

RNS Number : 2500C

Pearson PLC

18 January 2018

PEARSON PLC

("Pearson" or the "Company")

"Pearson announces that its subsidiary Pearson Funding Five plc has today announced the launch of a market tender to repurchase up to EUR400m of its EUR500m 1.875 per cent. Notes due 2021, guaranteed by Pearson (ISIN: XS1068765418) and EUR500m 1.375 per cent. Notes due 2025, guaranteed by Pearson (ISIN: XS1228153661).

The tender is intended to ensure that the group's gross issued bond debt which currently exceeds net debt is reduced to more closely align with net debt in order to promote an efficient balance sheet."

This information is provided by RNS

The company news service from the London Stock Exchange

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(END) Dow Jones Newswires

January 18, 2018 04:25 ET (09:25 GMT)