7th May 2019 18:31
LONDON (Alliance News) - WPP PLC on Tuesday announced the pricing of its offer to purchase any and all of its outstanding notes due 2042 and 2043.
The total consideration for the USD1,000 principal amount of the 5.125% notes due September 2042 each is USD1,007.81. The reference yield is 2.867% and the fixed spread is 220 basis points.
For the USD1,000 principal amount of the 5.625% notes due November 2043, the total consideration is USD1,077.82. The reference yield for this series is 2.867% and the fixed spread is also 220 basis points.
The offer expires at 1700EDT, or 2200BST on Tuesday and notes tendered can be withdrawn at any time prior to that.
Shares in WPP closed down 1.3% at 965.00 pence on Tuesday afternoon.
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