By Andrea Heisinger
Omaha, April 29 - Pearson Dollar Finance priced $900 million of Rule 144A notes (Baa1/BBB+/) Tuesday in two tranches, according to market sources.
The $350 million tranche of 5.5% five-year notes priced to yield Treasuries plus 245 basis points.
The $550 million tranche of 6.25% 10-year notes priced to yield Treasuries plus 245 bps.
Barclays Capital Inc., BNP Paribas Securities and Citigroup Global Markets Inc. were the bookrunners.
The funding branch of education and information media company Pearson plc is based in London.
| Issuer: | Pearson Dollar Finance
|
| Issue: | Notes
|
| Amount: | $900 million
|
| Bookrunners: | Barclays Capital Inc., BNP Paribas Securities, Citigroup Global Markets Inc.
|
| Distribution: | Rule 144A
|
| Trade date: | April 29
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
|
|
| Five-year tranche
|
| Amount: | $350 million
|
| Maturity: | 2013
|
| Coupon: | 5.5%
|
| Spread: | Treasuries plus 245 bps
|
|
|
| 10-year tranche
|
| Amount: | $550 million
|
| Maturity: | 2018
|
| Coupon: | 6.25%
|
| Spread: | Treasuries plus 245 bps
|
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