Shearman & Sterling represented Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as joint book-running managers in connection with The Interpublic Group of Companies, Inc.’s (IPG) $2 billion senior notes offering consisting of $500 million of 3.50% senior notes due 2020, $500 million of 3.75% senior notes due 2021, $500 million of 4.65% senior notes due 2028 and $500 million of 5.40% senior notes due 2048. The offerings were made in connection with the financing of IPG’s $2.3 billion acquisition of the Acxiom Corporation’s Marketing Solutions business.
Shearman & Sterling also advised the lenders in connection with commitments for a bridge facility and a term loan facility in connection with the acquisition.
IPG is one of the world’s leading organizations of advertising agencies and marketing services companies. Its major global brands include Craft, FCB (Foote, Cone & Belding), FutureBrand, Golin, Huge, Initiative, Jack Morton, MAGNA, McCann, Momentum, MRM//McCann, MullenLowe Group, Octagon, R/GA, UM and Weber Shandwick.