THE INTERPUBLIC GROUP OF COMPANIES, INC.

(IPG)
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Delayed Nyse  -  05/19 04:00:02 pm EDT
30.71 USD   -1.95%
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The Interpublic Group of Companies, Inc. Enters into an Amendment and Restatement of the Credit Agreement

11/04/2021 | 04:12pm EDT

The Interpublic Group of Companies, Inc. entered into an amendment and restatement (the ?Amendment?) of the Company?s credit agreement originally dated as of July 18, 2008 (as amended and restated as of November 1, 2019, as further amended prior to November 1, 2021, and as amended and restated pursuant to the Amendment, the ?Credit Agreement?), by and among the Company, the initial lenders named therein, Citibank, N.A. (?Citibank?), as administrative agent; Bank of America, N.A. and JPMorgan Chase Bank, N.A. (?JPMorgan?), as co-syndication agents; Morgan Stanley MUFG Loan Partners, LLC, acting through Morgan Stanley Senior Funding, Inc. (?Morgan Stanley?) and MUFG Bank Ltd. (?MUFG?), as documentation agent; and Citibank, JPMorgan, BofA Securities, Inc. and Morgan Stanley MUFG Loan Partners, LLC, acting through Morgan Stanley and MUFG, as joint lead arrangers and joint book managers. Under the Amendment, among other things, the maturity date of the Credit Agreement was extended to November 1, 2026. The revolving commitments under the Credit Agreement remain unchanged at $1.5 billion, and the Company continues to have the ability to increase the commitments under the Credit Agreement from time to time by an additional amount of up to $250 million, provided the Company receives commitments for such increases and satisfies certain other conditions. Pursuant to the Amendment, the cost structure has changed. Based on the Company?s current credit ratings, the applicable margin for Base Rate borrowings is 0.125%, for EURIBOR and SONIA borrowings is 1.125%, and for Term SOFR borrowing is 1.225% (each of Base Rate, EURIBOR, SONIA and Term SOFR as defined in the Credit Agreement), and the facility fee payable on a lender?s revolving commitment is 0.125%.


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Analyst Recommendations on THE INTERPUBLIC GROUP OF COMPANIES, INC.
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Financials (USD)
Sales 2022 9 540 M - -
Net income 2022 979 M - -
Net cash 2022 637 M - -
P/E ratio 2022 12,3x
Yield 2022 3,75%
Capitalization 12 089 M 12 089 M -
EV / Sales 2022 1,20x
EV / Sales 2023 1,14x
Nbr of Employees 56 800
Free-Float 99,5%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 30,71 $
Average target price 40,10 $
Spread / Average Target 30,6%
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Managers and Directors
Philippe Krakowsky Chief Executive Officer & Director
Ellen T. Johnson Chief Financial Officer & Executive Vice President
David M. Thomas Independent Non-Executive Chairman
Patricia Hinerman Chief Information Officer
Jocelyn E. Carter-Miller Independent Director
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