Business
Pearson Issues Inaugural Social Bond
Pearson Issues Inaugural Social Bond.
About this update from Pearson Plc
[{"type":"text","content":"\n \n \n RNS Number : 2823O\n Pearson PLC\n 28 May 2020\n \n \n \n \n Pearson Issues Inaugural Social Bond\n \n \n \n \n \n 28 May 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Pearson plc (\"Pearson\") announces that its subsidiary, Pearson Funding plc, has today priced an issue of £350,000,000 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.\n \n \n \n \n \n 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.\n \n \n \n \n \n \n Sally Johnson, Pearson's Chief Financial Officer, said:\n \n \n \"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.\"\n \n \n \n \n \n Barclays, BofA Securities and HSBC (Social Structuring Advisor) are joint lead managers.\n \n \n \n \n \n \n \n \n Contacts\n \n \n \n \n \n Treasury\n \n \n \n \n James Kelly\n \n \n Stephen Porter\n \n \n \n \n 07525 679788\n \n \n 07901 330598\n \n \n \n \n \n \n Investor Relations\n \n \n \n \n Jo Russell\n \n \n Anjali Kotak\n \n \n \n \n 07785 451266\n \n \n 07802 890724\n \n \n \n \n \n \n Media\n \n \n \n \n Tom Steiner\n \n \n Gemma Terry\n \n \n \n \n 07787 415891\n \n \n 07841 363216\n \n \n \n \n \n \n Brunswick\n \n \n \n \n Charles Pretzlik, Nick Cosgrove, Simone Selzer\n \n \n \n \n 0207 404 5959\n \n \n \n \n \n \n \n \n \n Disclaimers:\n \n The distribution of this announcement and other information in connection with any offer in certain jurisdictions m...