Pearson issues make-whole call for $550 million 6.25% notes due 2018

By Susanna Moon

Chicago, Feb. 24 – Pearson Dollar Finance Two plc issued a redemption notice for its $550 million 6.25% guaranteed senior notes due 2018 guaranteed by Pearson plc.

The notes will be redeemed on March 28 at a redemption price of the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest from the redemption date to the maturity date of May 6, 2018, discounted to the redemption date on a semiannual basis at the Treasury rate plus 40 basis points.

The issuer also will pay accrued interest to but excluding the redemption date and any additional amounts.

Pearson is a multinational publishing and education company based in London.

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