Interpublic to redeem 6¼% senior notes due 2014 via new notes offering

By Tali Rackner

Norfolk, Va., March 31 - The Interpublic Group of Cos., Inc. plans to redeem $350 million of its 6¼% senior notes due 2014 with the proceeds from a new notes offering, according to a 424B2 filing with the Securities and Exchange Commission.

The company has the right to redeem the notes at the greater of par and a make-whole amount plus accrued interest.

Proceeds will also be invested temporarily in short-term marketable securities and used for general corporate purposes.

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

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