Interpublic Announces Final Results of Tender Offer for Any and All of its Zero Coupon Convertible Senior Notes Due 2021
NEW YORK, NY (April 7, 2003) –The Interpublic Group of Companies, Inc. (NYSE: IPG) today announced final results of its tender offer for any and all of its outstanding zero coupon convertible senior notes issued in December 2001. The tender offer expired at 12:00 midnight, New York City time, on Friday, April 4, 2003.
Interpublic has been advised by the depositary that, as of the expiration time of the offer, approximately $700.5 million in aggregate principal amount at maturity of notes (or 99.79% of the issue) had been validly tendered and not withdrawn pursuant to the tender offer (including $118.2 million of notes tendered pursuant to the procedures for guaranteed delivery). Interpublic has accepted for purchase, at a price of $829.88 per $1,000 principal amount at maturity, all of the notes validly tendered and not withdrawn pursuant to the tender offer. The cash payment required to complete the tender offer is approximately $581.3 million. Payment for the notes accepted for purchase is expected to occur on or about Tuesday, April 7, 2003.
Salomon Smith Barney Inc. served the dealer manager for the tender offer; Mellon Investor Services LLC served as the information agent and the depositary.
The Interpublic Group is among the world's largest advertising and marketing organizations. Its global operating groups are McCann-Erickson WorldGroup, The Partnership, FCB Group and Interpublic Sports and Entertainment Group. Major global brands include Draft Worldwide, Foote, Cone & Belding Worldwide, Golin/Harris, NFO WorldGroup, Initiative Media, Lowe & Partners Worldwide, McCann-Erickson, Octagon, Universal McCann and Weber Shandwick.
|Philippe Krakowsky||Susan Watson|
|(212) 399-8088||(212) 399-8208|