Interpublic Group to price $500 million eight-year notes June 8 week

By Paul A. Harris

St. Louis, June 8 - The Interpublic Group of Companies, Inc. plans to price a $500 million offering of eight-year senior unsecured notes during the June 8 week, according to an informed source.

Morgan Stanley & Co. Inc., Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and UBS Investment Bank are joint bookrunners for the Rule 144A with registration rights offering.

HSBC Securities (USA) Inc., ING Wholesale and Lloyds TSB Corporate Markets are co-managers.

Credit ratings remain to be determined.

The notes come with four years of call protection.

Proceeds will be used to fund the tender for the New York-based advertising and marketing services company's notes maturing in 2010 and 2011, as well as to repay other debt, for general corporate purposes and for working capital.

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