By Andrea Heisinger
New York, June 24 - Omnicom Group Inc. priced $500 million 6.25% 10-year senior notes Wednesday to yield Treasuries plus 275 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes (Baa1/A-/A-) priced at 99.335 to yield 6.34% with a make-whole call at Treasuries plus 45 bps.
The active bookrunner was J.P. Morgan Securities Inc., with Barclays Capital Inc., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. as passive books.
Senior co-managers were Banc of America Securities LLC, Morgan Stanley & Co. Inc. and Wachovia Capital Markets LLC.
Co-managers were BNP Paribas Securities Corp., HSBC Securities (USA) Inc., SG Americas Securities, RBS Securities Inc. and UBS Investment Bank.
Proceeds will be used to repay debt under a $2.5 billion revolving credit facility and for general corporate purposes, including working capital expenditures, acquisitions, refinancing of debt or other capital transactions.
The deal is guaranteed by Omnicom Capital Inc. and Omnicom Finance Inc.
The global marketing and corporate communications company is based in New York City.
| Issuer: | Omnicom Group Inc.
|
| Guarantors: | Omnicom Capital Inc. and Omnicom Finance Inc.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | July 15, 2019
|
| Bookrunners: | J.P. Morgan Securities Inc. (active), Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. (passive)
|
| Senior co-managers: | Banc of America Securities LLC, Morgan Stanley & Co. Inc., Wachovia Capital Markets LLC
|
| Co-managers: | BNP Paribas Securities Corp., HSBC Securities (USA) Inc., SG Americas Securities, RBS Securities Inc., UBS Investment Bank
|
| Coupon: | 6.25%
|
| Price: | 99.335
|
| Yield: | 6.34%
|
| Spread: | Treasuries plus 275 bps
|
| Call: | Make-whole at Treasuries plus 45 bps
|
| Trade date: | June 24
|
| Settlement date: | July 1
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: A-
|
© 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.
