Wolters Kluwer leapfrogs Pearson for €400m sub-curve

By Jon Hay
07 May 2014

Media companies are rare birds in the European corporate bond market, so it was a surprise on Wednesday when, with Pearson in the midst of a roadshow, it was leapfrogged by Wolters Kluwer, which brought out a €400m no-grow deal.

However, there is likely to be plenty of demand left for Pearson. The Baa1/BBB+ rated UK company, which owns an educational publishing division, the Financial Times Group and 47% of Penguin Random House, has no euro bonds outstanding, so needed a full roadshow.

Bank of America Merrill Lynch, ...

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