Omnicom offers payment to avoid puts of zero-coupon convertibles due 2032

By Angela McDaniels

Seattle, July 28 - Omnicom Group Inc. said it will pay $32.50 per $1,000 principal amount of its $900 million zero-coupon, zero-yield convertible notes due 2032 to noteholders who do not exercise their right to put the convertibles back to the company on July 31.

Noteholders who have exercised their put options will also receive the payment if they withdraw their requests before the close of business on Aug. 1, according to a company news release.

The payment will be made to qualifying noteholders on Aug. 2.

Noteholders who purchased the convertibles after July 26 subject to three-day settlement will not be eligible to receive the payment.

Omnicom is a New York-based marketing and corporate communications company.

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