PEARSON PLC
("Pearson" or the "Company")
"Pearson announces that its subsidiary Pearson Funding Five plc has today announced the launch of a market tender to repurchase up to €400m of its €500m 1.875 per cent. Notes due 2021, guaranteed by Pearson (ISIN: XS1068765418) and €500m 1.375 per cent. Notes due 2025, guaranteed by Pearson (ISIN: XS1228153661).
The tender is intended to ensure that the group's gross issued bond debt which currently exceeds net debt is reduced to more closely align with net debt in order to promote an efficient balance sheet."
