Omnicom sets Aug. 6 convertibles payout for holders who forgo put

By Jennifer Chiou

New York, July 28 - Omnicom Group Inc. announced a payment of $22.50 per $1,000 principal amount of its zero-coupon zero-yield convertible notes due 2032 to holders who do not put back their securities as of the close of business on Aug. 2.

The company said it will also count holders who have put their notes but withdraw the request before the close of business on Aug. 3.

According to a news release, the payment will be made to qualifying noteholders on Aug. 6.

Of the $900 million of notes issued in 2002, $252.8 million remains outstanding.

Holders who purchased notes after July 28 will not be eligible to receive the payment.

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

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