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|Interpublic Announces Completion of Redemption of 6.25% Senior Notes due 2014|
New York, NY - May 5, 2014 - Interpublic Group (NYSE: IPG) today announced the completion of the redemption of all $350 million in aggregate principal amount of its 6.25% Senior Notes due 2014. The total cash payment to redeem the 6.25% Notes was $371.2 million, including a make-whole payment and accrued interest. Interpublic first announced the redemption on April 3, 2014.
"This successful completion of our recent financing activities further enhances IPG's financial flexibility, while also lowering interest expense for the company," commented Michael I. Roth, Chairman and Chief Executive Officer of Interpublic. "As we have said before, our capital structure and financial strength have been, and will continue to be, a source of significant value creation."
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Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include BPN, FCB (Foote, Cone & Belding), FutureBrand, GolinHarris International, Huge, Initiative, Jack Morton Worldwide, Lowe and Partners, MAGNA GLOBAL, McCann, Momentum, MRM//McCann, Octagon, R/GA, UM and Weber Shandwick. Leading domestic brands include Campbell Mithun, Carmichael Lynch, Deutsch, Gotham Inc., Hill Holliday, ID Media, Lowe Campbell Ewald, Mullen and The Martin Agency. For more information, please visit www.interpublic.com.
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This release contains forward-looking statements. Statements in this release that are not historical facts, including statements about management's beliefs and expectations, constitute forward-looking statements. These statements are based on current plans, estimates and projections, 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. 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:
Investors should carefully consider these factors and the additional risk factors outlined in more detail under Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K.