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Pearson Dol Fn 2 PLC (38KK)

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Friday 24 February, 2017

Pearson Dol Fn 2 PLC

Notice of Early Redemption

RNS Number : 8025X
Pearson Dollar Finance Two PLC
24 February 2017
 

Pearson Dollar Finance Two plc
24 February 2017

NOTICE OF EARLY REDEMPTION

Pearson Dollar Finance Two plc

 (the "Issuer")

and

PEARSON PLC

(the "Guarantor")

US$550,000,000 6.250% Guaranteed Senior Notes Due 2018

(the "Notes")

ISIN of Notes represented by Rule 144A Global Notes: US705010AB25

ISIN of Notes represented by Regulation S Global Notes: USG69648AB28

 

NOTICE HAS BEEN GIVEN to the holders of the above mentioned Notes, in accordance with Section 6.2 of the Indenture dated 6 May 2008 (the "Indenture"), that the Notes will be redeemed by the Issuer in whole at a redemption price equal to (a) any accrued and unpaid interest to (but excluding) 28 March 2017 (the "Redemption Date) and Additional Amounts (as defined in the Indenture), if any, plus (b) the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) as determined by The Bank of New York Mellon, as Calculation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed, not including any portion of such payment of interest accrued on the Redemption Date, from the Redemption Date to the maturity date, 6 May 2018, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Indenture), plus 40 basis points (the "Redemption Price").

 

On the Redemption Date, the Redemption Price for each Note will become due and payable and interest thereon, if any, shall cease to accrue on and after such date.

 

The Issuer will also request the cancellation of the listing of the Notes on the Official List of the United Kingdom Listing Authority with effect on and from the Redemption Date.

 

For further information, please contact:

 

Paying Agent, Trustee and Calculation Agent:

 

The Bank of New York Mellon

One Canada Square

London E14 5AL

Issuer:

 

Pearson Dollar Finance Two plc

80 Strand

London WC2R 0RL

Guarantor:

Pearson plc

80 Strand

London WC2R 0RL

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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