Omnicom holders put $841.2 million of convertibles due 2031; some to be resold to market

By Susanna Moon

Chicago, Feb. 10 - Omnicom Group Inc. holders put $841.2 million principal amount of the company's convertible notes due 2031 on Feb. 9, according to an 8-K filing with the Securities and Exchange Commission.

Omnicom purchased the notes at par.

The company said it funded the put by borrowing $814.4 million under its $2.5 billion five-year revolving credit facility and received $26.8 million from unaffiliated equity investors.

Omnicom said it purchased and retired $295.2 million principal amount of the convertibles.

A partnership controlled by Omnicom and formed for the purpose of buying the notes used a portion of Omnicom's credit facility borrowings and the contributed equity to purchase the remaining $546 million principal amount of notes.

The partnership purchased the convertibles, with the intention of selling them back into the marketplace over the next 12 months if conditions permit.

Omnicom is a New York marketing and corporate communications company.

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