WPP seeks amendment of 5.875% senior notes due 2014

By Jennifer Chiou

New York, March 27 - WPP Group plc is soliciting consents to amend its $650 million of 5.875% senior notes due 2014, according to an F-3ASR filing with the Securities and Exchange Commission.

The consent solicitation will expire at 5 p.m. ET on April 22.

In exchange for consents to proposed amendments, the company is offering to fully and unconditionally guarantee the notes.

WPP is seeking consents from holders of a majority of notes to:

• Allow for the dissolution of WPP Air UK, one of the guarantors of the notes; and

• Permit the issuer and the other guarantors of the notes to consolidate and merge with, and transfer all or substantially all of their respective assets to, any corporation, partnership or trust.

WPP is a communications services group based in London.

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