By Devika Patel
Knoxville, Tenn., May 28 – Pearson plc subsidiary Pearson Funding plc priced an inaugural £350 million of 3.75% social bonds due 2030, according to a market announcement.
The notes will be guaranteed by the parent and sold by joint lead managers Barclays, BofA Securities and HSBC.
Proceeds will be used to finance or refinance projects and expenditures that meet the eligible categories set out in Pearson's newly established social bond framework.
Pearson is a publishing and education company based in London.
| Issuer: | Pearson Funding plc
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| Guarantor: | Pearson plc
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| Securities: | Social bonds
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| Amount: | £350 million
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| Bookrunners: | Barclays, BofA Securities and HSBC
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| Maturity: | 2030
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| Coupon: | 3.75%
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| Pricing date: | May 28
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| Settlement date: | June 4
|
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