Stagwell to redeem all $870.3 million 7½% notes due 2024 via new notes

By Marisa Wong

Los Angeles, Aug. 10 – Stagwell Inc. intends to redeem all $870.3 million of its outstanding 7½% senior notes due 2024 using proceeds from an offering of new senior notes, according to a news release.

Proceeds from the new notes will also be used to reduce credit facility borrowings and for general corporate purposes.

The marketing services company is based in New York.

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