TIDM79DT

RNS Number : 2825O

Pearson Funding PLC

28 May 2020

Pearson Issues Inaugural Social Bond

 
 28 May 2020 
=============================================================================== 
 
           Pearson plc ("Pearson") announces that its subsidiary, Pearson 
         Funding plc, has today priced an issue of GBP350,000,000 3.75 per 
       cent. Guaranteed Notes due 2030 (the "Notes"), guaranteed by Pearson. 
         The Notes will be listed on the Global Exchange Market of Euronext 
              Dublin. Settlement of the Notes is expected 4 June 2020. 
 
        Pearson intends to apply the net proceeds of the issue of the Notes, 
       in part or in full, to finance or refinance projects and expenditures 
      that meet the Eligible Categories set out in Pearson's newly established 
          Social Bond Framework. The framework, which is in alignment with 
          the ICMA Social Bond Principles and the second party opinion by 
                 Vigeo Eiris are published on the Pearson website. 
 
         Sally Johnson, Pearson's Chief Financial Officer, said: "Pearson's 
           purpose is to help people make progress in their lives through 
        learning. Through launching this bond, with a clear social element, 
         we emphasise our commitment to ensuring learners around the world 
         can gain access to high quality education, underpinning Pearson's 
       support of the UN Sustainable Development Goals. This is an important 
       milestone for Pearson as we further strengthen our long-term liquidity 
         and continue to build a more sustainable business that is focused 
                          on digital, lifelong learning." 
 
          Barclays, BofA Securities and HSBC (Social Structuring Advisor) 
                              are joint lead managers. 
 
    ContactsTreasury             James Kelly                        07525 679788 
         Stephen Porter                                         07901 330598 
        =====================================================  ============= 
        Investor Relations   Jo Russell                         07785 451266 
         Anjali Kotak                                           07802 890724 
        =====================================================  ============= 
        Media                Tom Steiner                        07787 415891 
         Gemma Terry                                            07841 363216 
        =====================================================  ============= 
                                    Charles Pretzlik, Nick Cosgrove, 
       Brunswick             Simone Selzer                     0207 404 5959 
       ===================  =================================  ============= 
 
 
      Disclaimers: The distribution of this announcement and other information 
      in connection with any offer in certain jurisdictions may be restricted 
          by law and persons who come into possession of this announcement 
           or any document or other information referred to herein should 
       inform themselves about and observe any such restriction. Any failure 
          to comply with these restrictions may constitute a violation of 
                      the securities laws of any jurisdiction. 
 
          This announcement does not constitute or form part of any offer 
        or invitation to sell, or any solicitation of any offer to purchase 
      any securities. Any securities referred to herein will not be registered 
        under the U.S. Securities Act of 1933, as amended, (the "Securities 
          Act"). Subject to certain exceptions, such securities may not be 
         offered, sold or delivered within the United States or to, or for 
                      the account or benefit of U.S. persons. 
 
         This announcement is directed only at persons who (i) are outside 
         the United Kingdom or (ii) have professional experience in matters 
        relating to investments or (iii) are persons falling within Article 
          49 (2)(a) to (d) of The Financial Services and Markets Act 2000 
          (Financial Promotion) Order 2005 (the "Order") or (iv) any other 
           persons to whom this announcement may lawfully be communicated 
          pursuant to the Order (all such persons together being referred 
           to as "relevant persons"). This announcement must not be acted 
      on or relied on by persons who are not relevant persons. Any investment 
       or investment activity to which this announcement relates is available 
         only to relevant persons and will be engaged in only with relevant 
                                      persons. 
 
         The manufacturer target market for the purpose of MIFID II product 
           governance is eligible counterparties and professional clients 
        only (all distribution channels). No PRIIPs key information document 
          (KID) has been prepared as the Notes are not available to retail 
                                   in EEA or UK. 
                          FCA/ICMA stabilisation applies.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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