Interpublic Strengthens Balance Sheet with Notes Offering and New Credit Facility in Response to COVID-19

April 2, 2020

Willkie advised Interpublic Group on a $650 million notes offering and $500 million credit facility.

On March 30, Interpublic Group (NYSE: IPG) announced a pair of financial actions designed to enhance its balance sheet and total liquidity position. It completed a registered public offering of $650 million aggregate principal amount of its 4.750% Senior Notes due 2030. In addition, the company arranged a new $500 million 364-day credit facility with a consortium of banks.

Interpublic Group is a global provider of marketing solutions. With 54,000 employees in all major world markets, its companies specialize in advertising, digital marketing, communications planning, media, public relations and specialty marketing.

The Willkie team for the notes offering was led by partner Danielle Scalzo and associate Anne Barrett. The credit facility arrangement was led by partner David Tarr and counsel Ajanaclair Lynch.