Omnicom gets puts for $474.3 million LYONs, pays $7.6 million to non-participating holders

By Jennifer Chiou

New York, Aug. 6 - Omnicom Group Inc. received puts from holders of $474.3 million of its Liquid Yield Option Notes due July 31, 2032 and made a supplemental interest payment of $7.6 million to holders who did not participate in the put, according to a 10-Q filing with the Securities and Exchange Commission.

On July 29, the company announced that it would pay $30.00 per $1,000 principal amount of its LYONs to registered noteholders who did not exercise their right to put back the securities.

Omnicom said that $252.7 million of the notes now remains outstanding.

The payment also applied to those who previously put their notes, but withdrew this request before the close of business on Aug. 3.

The company issued $900 million of the notes in 2002.

As already reported, the payment of $30.00 per $1,000 principal amount represents a spread of 250 basis points over the current yield to maturity on the U.S. Treasury due July 29, 2010.

Based in New York, Omnicom is a marketing and corporate communications company.

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