| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Omnicom Group Inc. > News item |
Omnicom to extend call protection for LYONs not put back
New York, Feb. 3 - Omnicom Group Inc. said it will extend the call protection on its Liquid Yield Option Notes due 2031 for holders who do not exercise the upcoming put option.
The New York marketing and corporate communications company said it will push back the first call date to Feb. 7, 2009 from Feb. 7, 2006.
The convertibles are putable on Feb. 4.
Currently Omnicom has $847 million of the securities outstanding.
Omnicom previously made a cash payment to discourage the exercise of a previous put on the issue. And it has extended the call protection and made a cash payment on another series of LYONs.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.