Omnicom plans to redeem zero-coupon zero-yield convertibles due 2032

By Tali Rackner

Norfolk, Va., June 5 – Omnicom Group Inc. and wholly owned subsidiary Omnicom Capital Inc. issued a redemption notice for any and all of their $252,772,000 zero-coupon zero-yield convertible notes due 2032, according to a press release.

The convertibles will be redeemed at par on July 31.

Holder may convert their notes at any time before the close of business on July 29 at a conversion rate of 18.373 shares of Omnicom Group's common stock per $1,000 principal amount of notes. The conversion price is $54.43, compared with a closing share price of $71.35 (NYSE: OMC) on June 5.

In addition, contingent cash interest of $2.81 per $1,000 principal amount is payable on July 31 to holders of record as of July 15.

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

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