Announcement of Conditional Full Redemption

28th December 2018 at 14:30
Corporate News

28 December 2018 –  TES Finance plc today issued a conditional notice of full redemption in respect of its 6.75% Senior Secured Notes due 2020 (the “Fixed Rate Notes”) and Senior Secured Floating Rate Notes due 2020 (the “Floating Rate Notes”, and together with the Fixed Rate Notes, the “Notes”) on February 1, 2019 (the “Redemption Date”).  The Issuer’s obligation to redeem any of the Notes on the Redemption Date is conditioned upon the completion of the previously announced TES Sale.

About the TES group

The TES group supports and connects teachers and schools worldwide, helping them improve children’s lives through education.

Building on its heritage of writing news for teachers for over a century, Tes is at the heart of the global teaching profession. It hosts a digital community of 11.6m educators, who create and share-teaching resources downloaded up to a million times a day. Through sophisticated digital tools and services, Tes helps schools attract candidates to fill vacancies, as well as qualify and train their own teachers.

More information about the TES group, including with respect to its financial condition and results of operations, has been made publicly available on its website at the following address: https://www.tes.com/tesglobal  

Forward Looking Statements

This press release includes forward looking statements. These forward looking statements can be identified by the use of forward looking terminology, including the terms as “anticipate,” “believe,” “continue,” “ongoing,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “target,” “seek” or, in each case, their negative, or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding the TES group’s or any of its affiliates’ intentions, beliefs or current expectations concerning, among other things, the TES group’s or any of its affiliates’ results of operations, financial condition, liquidity, prospects, growth, strategies and the industries in which they operate. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward looking statements are not guarantees of future performance and that the TES group’s or any of its affiliates’ actual results of operations, financial condition and liquidity, and the development of the industries in which they operate may differ materially from those made in or suggested by the forward looking statements contained in this press release. In addition, even if the TES group’s or any of its affiliates’ results of operations, financial condition and liquidity, and the development of the industries in which they operate are consistent with the forward looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.