Interpublic Strengthens Balance Sheet in Response to COVID-19
Completes Offering of
Adds to Existing Credit Facilities
In addition, the company has arranged a new
“As the world responds to the outbreak of COVID-19, our thoughts are with the people affected and the medical professionals working around the clock to help those most in need. At IPG, we’re working to do our part by taking steps to ensure the safety of our employees, while developing creative ideas to protect the health and well-being of our communities, and setting up our people to help them do their best work for our clients while working remotely. In addition, we are focused on protecting our future, and these actions we completed today fortify our financial stability in light of current market uncertainty,” commented
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Interpublic is values-based, data-fueled, and creatively-driven. Major global brands include Acxiom, Craft, FCB (
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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, and our other filings with the
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:
- potential effects of a challenging economy, for example, on the demand for our advertising and marketing services, on our clients' financial condition and on our business or financial condition;
- the outbreak of the novel coronavirus (“COVID-19”) and measures to reduce its spread;
- our ability to attract new clients and retain existing clients;
- our ability to retain and attract key employees;
- risks associated with assumptions we make in connection with our critical accounting estimates, including changes in assumptions associated with any effects of a weakened economy;
- potential adverse effects if we are required to recognize impairment charges or other adverse accounting-related developments;
- risks associated with the effects of global, national and regional economic and political conditions, including counterparty risks and fluctuations in economic growth rates, interest rates and currency exchange rates;
- developments from changes in the regulatory and legal environment for advertising and marketing and communications services companies around the world; and
- failure to realize the anticipated benefits on the acquisition of the Acxiom business.
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, and our other
No statement contained in this press release shall constitute a notice of redemption under the indenture governing the 2020 Notes or the 2021 Notes. Any such notice, if made, will only be made in accordance with the provisions of the applicable indenture.
Source: Interpublic Group of Companies, Inc.