INTERPUBLIC GROUP OF COMPANIES, INC.: debt financing — Interpublic Group prices $300M 5.375% Senior Notes due 2033

INTERPUBLIC GROUP OF COMPANIES, INC.

$300M 5.375% Senior Notes due 2033 priced on June 6, closed June 8, 2023.
Net proceeds ~$293M; proceeds to be used for general corporate purposes including repayment of $250M 4.200% notes due Apr 2024.
Notes are unsecured senior obligations of Interpublic, ranking equally with other unsecured senior debt.
Interest payable semi-annually on Jun 15 and Dec 15, first payment Dec 15, 2023.
Holders may require repurchase at 101% plus accrued interest upon a change-of-control triggering ratings downgrade.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

INTERPUBLIC GROUP OF COMPANIES, INC. incurred senior notes of $300 million aggregate principal amount with U.S. Bank Trust Company, National Association at 5.375% maturing June 15, 2033.

Instrument: senior notes
Principal: $300 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.375%
Maturity: June 15, 2033
Event: incurrence

Exact text from the filing

On June 8, 2023, The Interpublic Group of Companies, Inc. (the “ Company ”) completed its offering and sale of $300 million aggregate principal amount of its 5.375% Senior Notes due 2033 (the “ Notes ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INTERPUBLIC GROUP OF COMPANIES, INC. entered into Supplemental Indenture with U.S. Bank Trust Company, National Association valued at $300 million (effective 2023-06-08).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $300 million
Effective: 2023-06-08

Exact text from the filing

On June 8, 2023, The Interpublic Group of Companies, Inc. (the “ Company ”) completed its offering and sale of $300 million aggregate principal amount of its 5.375% Senior Notes due 2033 (the “ Notes ”).

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Source: SEC EDGAR

accession 0001193125-23-163569

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