Interpublic obtains $2.3 billion bridge loan commitment for acquisition

By Tali Rackner

Minneapolis, July 6 – Interpublic Group of Cos., Inc. entered into a commitment letter on July 2 for a $2.3 billion 364-day senior unsecured bridge loan facility, according to an 8-K filing with the Securities and Exchange Commission.

The commitment parties are Citigroup Global Markets Inc., Citibank, NA, Citicorp USA, Inc., Citicorp North America, Inc. and JPMorgan Chase Bank, NA.

The bridge loan is in connection with the company’s membership interest purchase agreement in which it will acquire Acxiom Corp.’s marketing solutions business for $2.3 billion in cash, the filing said.

Interpublic is a New York-based provider of advertising and marketing services.

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