WPP Offers to Issue New Corporate Bonds and Exchange Existing BondsWPP plc ("WPP") has announced an offer to issue new 10 year corporate bonds for cash. The offer is made by WPP's subsidiary WPP Finance 2010 and any new bonds issued will be guaranteed by WPP and other subsidiaries of WPP. At the same time, WPP announced an offer to exchange some of its existing corporate bonds, which are due for repayment in 2014, for up to US$450 million of the new bonds.
A more detailed press announcement in relation to the cash offer (the "Private Cash Offering") and the offer to exchange existing bonds ("the Private Exchange Offer") is being made on this subject, simultaneously with this announcement.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. The securities have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Private Cash Offering and the Private Exchange Offer are made only by, and pursuant to, the terms set forth in the related offering memorandums. Neither the Private Cash Offering nor the Private Exchange Offer are being made to persons in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.