UK MEDIA giant Pearson has mandated Deutsche Bank to arrange a $2bn MTN programme which looks set to be signed mid-October. The company is also planning a $1bn Yankee bond but it is not yet clear whether it will be documented under the facility. Issuance under the programme should refinance the recent $6bn facility taken out by the company to back Pearson's acquisition with Hicks, Muse, Tate & Frustra of Simon & Schuster, the US media firm that specialises in educational literature and which is being sold by Viacom.
August 21, 1998