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LONDON - WPP plc (LSE/NYSE:WPP) priced a €1 billion senior unsecured fixed-rate bond on Tuesday with a 5.5-year maturity and an annual coupon of 3.625%, according to a company press release.
The bond issuance attracted significant investor interest, generating an order book exceeding €2.9 billion, representing an oversubscription of 2.9 times. The bonds are expected to receive "BBB" and "Baa2" ratings from S&P and Moody’s, respectively.
WPP plans to use the net proceeds from the offering to fund general corporate purposes, including refinancing existing debt as part of its capital allocation strategy.
BNP Paribas, Citi, HSBC, NatWest and SMBC served as Joint Lead Bookrunners for the transaction.
The bonds were issued under WPP’s €6 billion Euro Medium Term Note Programme established in May 2025. The offering excludes U.S. investors as the securities have not been registered under the U.S. Securities Act.
WPP, which describes itself as a creative transformation company, operates globally in the advertising and marketing services sector.
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