Interpublic: completes 2 billion dollar acquisition bond
(CercleFinance.com) - Interpublic has launched a 2 billion dollar, four-tranche acquisition bond to help finance the acquisition of Acxiom's marketing business, the US communication company said on Monday.
The owner of the McCann ad agency has completed the public offering of 500 million dollars of 3.5% senior notes due in 2020, 500 million dollars of 3.75% senior notes due in 2021, 500 million dollars of 4.65% senior notes due in 2028 and 500 million dollars of 5.4% senior notes due in 2048.
The net proceeds reached approximately 1.978 billion dollars, the group said.
Interpublic also plans to use the net proceeds to repay certain outstanding commercial paper borrowings and for general corporate purposes.
The Acxiom deal is expected to close around 1 October.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The owner of the McCann ad agency has completed the public offering of 500 million dollars of 3.5% senior notes due in 2020, 500 million dollars of 3.75% senior notes due in 2021, 500 million dollars of 4.65% senior notes due in 2028 and 500 million dollars of 5.4% senior notes due in 2048.
The net proceeds reached approximately 1.978 billion dollars, the group said.
Interpublic also plans to use the net proceeds to repay certain outstanding commercial paper borrowings and for general corporate purposes.
The Acxiom deal is expected to close around 1 October.
Copyright (c) 2018 CercleFinance.com. All rights reserved.