Advertising and marketing services provider Interpublic Group of Cos. Inc. said Monday that it entered into a three-year revolving credit facility with a syndicate of banks for borrowings of up to $335 million.
Of that amount, $200 million is available for the issuance of letters of credit. The facility will allow that company to increase the aggregate commitment to $485 million if lenders agree to additional commitments.
The credit agreement will expire in July 2011.
The company can use the money for general business purposes.
