Interpublic Prices Offering of $300 Million Aggregate Principal Amount of Senior Notes
June 06 2023 - 04:30PM
Interpublic Group (NYSE: IPG) today announced that it has priced a
registered public offering of $300 million aggregate principal
amount of its 5.375% Senior Notes due 2033 (CUSIP Number 460690
BU3) (the “Notes”). The offering of the Notes is expected to close
on June 8, 2023, subject to customary closing conditions. The net
proceeds are expected to be approximately $293 million after
discounts, commissions and estimated offering expenses. The Company
plans to use the net proceeds from the offering for general
corporate purposes, which is expected to include the repayment at
or before maturity of the $250 million aggregate principal amount
of its 4.200% senior notes due April 2024 (the “2024 Notes”). No
statement contained in this press release shall constitute a notice
of redemption under the indenture governing the 2024 Notes.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan
Stanley & Co. LLC and BofA Securities, Inc. are acting as joint
book-running managers for the offering.
# # #
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction. A shelf registration statement relating to
these securities has been filed with the Securities and Exchange
Commission (“SEC”) and is effective. The offering is being made by
means of a prospectus and related prospectus supplement only,
copies of which, or information concerning this offering, may be
obtained by contacting: Citigroup Global Markets Inc. toll-free at
(800) 831-9146 or by email at prospectus@citi.com; J.P.
Morgan Securities LLC collect at 212-834-4533; or Morgan Stanley
& Co. LLC toll-free at (866)-718-1649. You may also obtain
these documents for free by visiting EDGAR on the SEC website
at www.sec.gov.
# # #
About InterpublicInterpublic (NYSE: IPG) (www.interpublic.com)
is a values-based, data-fueled, and creatively-driven provider of
marketing solutions. Home to some of the world’s best-known and
most innovative communications specialists, IPG global brands
include Acxiom, Craft, FCB, FutureBrand, Golin, Huge, Initiative,
IPG Health, Jack Morton, Kinesso, MAGNA, Matterkind, McCann,
Mediabrands, Mediahub, Momentum, MRM, MullenLowe Group, Octagon,
R/GA, UM, Weber Shandwick and more. IPG is an S&P 500 company
with total revenue of $10.93 billion in 2022.
# # #
Contact InformationTom Cunningham (Press) (212) 704-1326
Jerry Leshne (Analysts, Investors) (212) 704-1439
Cautionary Statement
This release contains forward-looking statements. Statements in
this release that are not historical facts, including statements
regarding guidance, goals, intentions, and expectations as to
future plans, trends, events, or future results of operations or
financial position, constitute forward-looking statements.
Forward-looking statements are based on current expectations and
assumptions that are subject to risks and uncertainties, which
could cause our actual results and outcomes to differ materially
from those reflected in the forward-looking statements, and are
subject to change based on a number of factors, including those
outlined under Item 1A, Risk Factors, in our most recent
Annual Report on Form 10-K and our quarterly reports on Form 10-Q
and our other filings with the Securities and Exchange Commission
("SEC"). Forward-looking statements speak only as of the date they
are made, and we undertake no obligation to update publicly any of
them in light of new information or future events.
Forward-looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Such factors include, but are not
limited to, the following:
- the effects of a challenging economy on the demand for our
advertising and marketing services, on our clients’ financial
condition and on our business or financial condition;
- our ability to attract new clients and retain existing
clients;
- our ability to retain and attract key employees;
- the impacts of the COVID-19 pandemic, including potential
developments like the emergence of more transmissible or virulent
coronavirus variants, and associated mitigation measures, such as
restrictions on businesses, social activities and travel, on the
economy, our clients and demand for our services;
- risks associated with the effects of global, national and
regional economic and political conditions, including counterparty
risks and fluctuations in interest rates, inflation rates and
currency exchange rates;
- the economic or business impact of military or political
conflict in key markets;
- risks associated with assumptions we make in connection with
our critical accounting estimates, including changes in assumptions
associated with any effects of a challenging economy;
- potential adverse effects if we are required to recognize
impairment charges or other adverse accounting-related
developments;
- developments from changes in the regulatory and legal
environment for advertising and marketing services companies around
the world, including laws and regulations related to data
protection and consumer privacy; and
- the impact on our operations of general or directed
cybersecurity events.
Investors should carefully consider the foregoing factors and
the other risks and uncertainties that may affect our business,
including those outlined in more detail under Item 1A, Risk
Factors, in our most recent Annual Report on Form 10-K and our
quarterly reports on Form 10-Q and our other SEC filings. Investors
are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date they are made. We
undertake no obligation to update or revise publicly any of them in
light of new information, future events, or otherwise.
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