By Andrea Heisinger
New York, May 10 - Pearson Funding Two plc priced $350 million of 4% six-year notes (Baa1/BBB+/) on Monday to yield 185 basis points over Treasuries, a source close to the deal said.
Full terms were not available at press time.
The notes were sold under Rule 144A.
Bookrunners were Bank of America Merrill Lynch and J.P. Morgan Securities Inc.
The issuing arm of media and education conglomerate Pearson plc is based in London.
| Issuer: | Pearson Funding Two plc
|
| Issue: | Notes
|
| Amount: | $350 million
|
| Maturity: | May 17, 2016
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities Inc.
|
| Coupon: | 4%
|
| Spread: | Treasuries plus 185 bps
|
| Distribution: | Rule 144A
|
| Trade date: | May 10
|
| Settlement date: | May 17
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
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