INTERPUBLIC GROUP OF COMPANIES, INC. : IPG Issues Statement With Respect to
4.75% Convertible Senior Notes
New York, NY - February 14, 2013 - The Interpublic Group of Companies (NYSE:
IPG) is releasing this statement in connection with its announcement yesterday
of its redemption of its 4.75% Convertible Senior Notes due 2023 to occur on
March 15, 2013. In its previous notice, Interpublic stated that Holders of
its 4.75% Senior Notes who elect to convert their Notes are not entitled to
the payment of accrued interest. Interpublic is today announcing that,
notwithstanding that statement, the Company has now decided to pay accrued
interest on the next interest payment date, March 15, 2013, to Holders as of
the record date who elect to convert their 4.75% Senior Notes during the
period between the record date and the interest payment date.
The Company, after further careful review of the indenture provisions in
question, continues to believe these provisions support its reading of the
indenture concerning the payment of accrued interest. Nevertheless, in the
interest of maintaining continued good relations with its noteholders, the
Company will elect to pay accrued interest on March 15, 2013 to Holders as of
the record date who choose to convert their 4.75% Senior Notes during the
period between the record date and the interest payment date. Holders who
elect to convert their Notes before the interest record date, March 1, 2013,
will not receive accrued interest.
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Interpublic is one of the world's leading organizations of advertising
agencies and marketing services companies. Major global brands include
Draftfcb, FutureBrand, GolinHarris International, Huge, Initiative, Jack
Morton Worldwide, Lowe and Partners, MAGNAGLOBAL, McCann, Momentum, MRM
Worldwide, Octagon, R/GA, UM and Weber Shandwick. Leading domestic brands
include Campbell Ewald; Campbell Mithun; Carmichael Lynch; Deutsch, a Lowe and
Partners Company; Gotham Inc.; Hill Holliday; ID Media; Mullen and The Martin
Agency. For more information, please visit www.interpublic.com.
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This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: INTERPUBLIC GROUP OF COMPANIES, INC. via Thomson Reuters ONE
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