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Interpublic has no maturities until 2028 after repaying $250 million
By Devika Patel
Knoxville, Tenn., April 24 – Interpublic Group of Cos. Inc. has no debt maturities due until 2028 after repaying $250 million of maturing debt this month with cash.
“Earlier this month, [a] $250 million maturity was repaid from cash,” chief financial officer Ellen Johnson said on the New York-based global advertising and marketing company’s first quarter ended March 31 earnings conference call on Wednesday.
“With that, our next maturity is not until 2028,” she said.
As of March 31, 2024, cash and cash equivalents totaled $1.93 billion, compared to $2.39 billion as of Dec. 31, 2023 and $1.68 billion on March 31, 2023.
Total debt was $3.19 billion as of March 31, 2024, compared to $3.2 billion as of Dec. 31, 2023.
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