Pearson Funding PLC (PSON)

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Pearson Funding PLC (PSON)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	COMM	PRCD	PSON	Pearson Funding PLC	£350		1	EMEA	May 28, 2020

Tranche #1Pearson Funding PLC

currency

GBP

size (m)

350.000

maturity

Jun 4, 2030

type

Fixed

tenor

10.000

call

registration

Reg S Only

benchmark

ranking

Sr. Unsecured

moody's

Baa2

s&p

BBB-

fitch

size description

re-open/tap

ipt

G+400 a

ipt-pxd

guidance

G+370 a

spread

355

coupon

3.75%

spread set

price

99.24600

yield

3.806%

book size (m)

3,750

peak book (m)

x-covered

10.71

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

3,750

peak book (m)

x-covered

10.71

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

10 yr: Book size: 3750; Registration: Reg S Only; Comments: GBP350m 10yr bmk snr unsec education bond (SRI), RegS. Baa2/BBB-, MSCI AA ESG. Barc(B&D)/BofA/HSBC. IPTs G+400 area, guidance G+370 area, launch 350m @G+355 vs UKT 0.375% 10/30, HR 80%, bk ~3.75bn, MWC G+55. Gilt (101.224 mid, 101.184 bid). LEI: 2138001ZJKQ5U81RMY52.;

Deal Comments

Education Bond

Guarantor(s)

Pearson plc

Use of Proceeds

Refinance projects and expenditures

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