Item 2.04. Triggering Events that Accelerate or Increase a Direct Financial Obligation.
On February 24, 2012, The Interpublic Group of Companies, Inc. (the “Company”), announced that it is exercising its option to redeem its 4.25% Convertible Notes due 2023 (the “Notes”) (CUSIP Nos. 460690 BA 7 and 460690 AZ 3). Pursuant to Article 11 of the indenture dated November 15, 2006 (the “Base Indenture”) and Section 2.02 of the first supplemental indenture dated as of November 15, 2006 (the “Supplemental Indenture”, and, together with the Base Indenture, the “Indenture”), between the Company and The Bank of New York Mellon, the Company issued a Redemption Notice announcing the redemption of all of its outstanding Notes, of which an aggregate principal amount of $400,000,000 are outstanding. The redemption price is equal to $1,000 per $1,000 principal amount of the notes, plus accrued and unpaid interest up to, but excluding, the redemption date. The redemption date is March 26, 2012. Holders of the notes may convert their notes into shares of Interpublic common stock at a conversion rate of 82.4612 common shares per $1,000 principal amount of notes until the close of business on March 23, 2012. A copy of the Redemption Notice is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 8.01 Other Events.
On February 24, 2012, the Company issued a press release announcing the exercise of the Company’s option to redeem all of its outstanding Notes. A copy of the press release is attached hereto as Exhibit 99.2 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1: Redemption Notice, dated February 24, 2012 (filed pursuant to Item 2.04).
Exhibit 99.2: Press release, dated February 24, 2012 (filed pursuant to Item 8.01).