NEW YORK, Jun 13, 2006 (BUSINESS WIRE) -- The Interpublic Group of Companies (NYSE: IPG) reported today that it has closed a new financing providing it with a $750 million standby liquidity facility, on the terms previously announced on June 7, 2006. The financing includes the issuance of warrants to purchase Interpublic common stock, as well as the issuance of notes by the special-purpose entity that is providing the liquidity facility. In connection with the financing, Interpublic has terminated its existing three-year revolving stand-by credit facility.
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draft, Foote Cone & Belding Worldwide, FutureBrand, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe Worldwide, MAGNA Global, McCann Erickson, Momentum, MRM, Octagon, Universal McCann and Weber Shandwick. Leading domestic brands include Campbell-Ewald, Carmichael Lynch, Deutsch, Hill Holliday, Mullen and The Martin Agency.
SOURCE: The Interpublic Group of Companies
For The Interpublic Group of Companies
Philippe Krakowsky, 212-704-1328
Jerry Leshne, 212-704-1439