Interpublic Group adjusts conversion rate on its 4.75% convertibles

By Tali David

Minneapolis, June 11 - The Interpublic Group of Cos., Inc. adjusted the conversion rate on its 4.75% convertible senior notes due 2023 to 83.3669 common shares per $1,000 principal amount of notes, according to an 8-K filed with the Securities and Exchange Commission.

The previous conversion price was 82.4612 common shares per $1,000 principal amount of notes.

The adjustment was the result of a common stock cash dividend payable on June 22 and a cash dividend paid on March 23.

Interpublic is a New York-based provider of advertising and marketing services.

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