Interpublic Announces Completion of its Tender Offers
On July 7, 2009, Interpublic made a payment in cash for all 2009 Notes and 2011 Notes tendered after 5 p.m. New York City time, on June 19, 2009 (the "Early Tender Date") and prior to the Expiration Date, as well as all 2010 Notes accepted for purchase in the waterfall tender offer.
Between the Early Tender Date and the Expiration Date, Interpublic received tenders in respect of $25,000 aggregate principal amount of 2009 Notes and $45,000 aggregate principal amount of 2011 Notes, all of which have been accepted for purchase by Interpublic. The holders of the accepted 2009 Notes were entitled to receive consideration of $980 per $1,000 of principal amount tendered and the holders of the accepted 2011 Notes were entitled to receive consideration of $1,010 per $1,000 of principal amount tendered.
As previously announced, Interpublic has purchased for cash $213.9 million aggregate principal amount of the 2009 Notes and $463.7 million aggregate principal amount of the 2011 Notes, which were tendered on or before the Early Tender Date. In total, Interpublic received tenders of 85.6% of the outstanding 2009 Notes and 92.8% of the outstanding 2011 Notes.
Interpublic has also accepted for purchase $36.3 million aggregate principal amount of 2010 Notes. As per the terms of the waterfall tender offer, the amount of 2010 Notes to be purchased were prorated based on the aggregate principal amount of 2010 Notes tendered.
The holders of the accepted 2010 Notes were entitled to receive total consideration of $1,000 per $1,000 of principal amount accepted for purchase, which includes an early tender premium.
The cash payment due upon final settlement of the accepted 2009 Notes, 2011 Notes and 2010 Notes, including accrued and unpaid interest, was $36.5 million.
Morgan Stanley & Co. Incorporated and Citigroup Global Markets Inc. served as the dealer managers for the tender offers; Global Bondholder Services served as the information agent and the depositary.
This announcement does not constitute an offer to purchase or a solicitation of an offer to sell securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draftfcb, FutureBrand, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe Worldwide, Magna, McCann Erickson, Momentum, MRM Worldwide, Octagon, Universal McCann and Weber Shandwick. Leading domestic brands include Campbell-Ewald, Campbell Mithun, Carmichael Lynch, Deutsch, Hill Holliday, Mullen, The Martin Agency and R/GA. For more information, please visit www.interpublic.com.
SOURCE: The Interpublic Group of Companies, Inc.
The Interpublic Group of Companies, Inc.
Philippe Krakowsky, 212-704-1328
Jerry Leshne, 212-704-1439