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Stagwell to reduce credit facility borrowings with note proceeds
By Marisa Wong
Los Angeles, Aug. 10 – Stagwell Inc. intends to reduce credit facility borrowings using proceeds from an offering of new senior notes, according to a news release.
Proceeds from the new notes will also be used to redeem all of Stagwell’s outstanding 7˝% senior notes due 2024 and for general corporate purposes.
The marketing services company is based in New York.
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