Omnicom's zero-coupon zero-yield convertibles to accrue cash interest

By Tali David

Minneapolis, July 31 - Omnicom Group Inc. and wholly owned direct finance subsidiary Omnicom Capital Inc. announced that their zero-coupon zero-yield convertible notes due 2032 will accrue contingent interest for the six-month period beginning Aug. 1, according to a press release.

Contingent cash interest of $2.81 per $1,000 principal amount of the notes is payable on each of Oct. 31 and Jan. 31, 2014 to holders of record of the notes as of Oct. 15 and Jan. 15, 2014, respectively.

Total contingent interest for the semiannual period is expected to be roughly $1.4 million, the release said.

The marketing and corporate communications company is based in New York.

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