Anticipating GM Filing, Interpublic Amends Loan Deal

Law360, New York (May 19, 2009, 12:00 AM EDT) -- Interpublic Group of Companies Inc., the advertising and marketing conglomerate that counts General Motors Corp. as a client, has taken steps to soften the effects of a potential GM bankruptcy filing by finalizing a deal with its lenders to salvage a $335 million credit facility.

In an amendment to a three-year credit agreement, Interpublic's lenders have agreed to let the company absorb up to $150 million of cash charges and $100 million in noncash charges as a result of a bankruptcy filing by GM and still...
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