Omnicom avoids put on convertibles after adding sweetener

New York, Aug. 2 - Omnicom Group Inc. said that none of its zero-coupon zero-yield convertible notes due 2032 were put back to the company.

On July 28, the New York-based marketing and corporate communications company announced a sweetener to discourage exercise of the option.

Holders who did not put their notes will receive $37.50 per $1,000 principal amount. The record date to receive payment was immediately after the close of business on Aug. 1, and the money was scheduled to be paid on Aug. 2.

Omnicom issued $900 million of the notes in 2002.

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