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Omnicom avoids puts of convertibles after adding sweetener
New York, Feb. 7 - Omnicom Group Inc. said that no holders of its Liquid Yield Option Notes due 2031 exercised the put.
The company had previously added an incentive for investors not to exercise the option.
As a result, all $847 million of the LYONs remain outstanding.
On Feb. 2 Omnicom said it will pay $46.25 per $1,000 principal amount of its LYONs due 2031 to holders who did not exercise the put.
Investors will receive the money if they have not exercised the put as of immediately after the close of business on Feb. 2 or if they exercise the put but withdraw the request by Feb. 6.
The record date to receive payment was immediately after the close of business on Feb. 2, and the money will be paid on Feb. 8.
Omnicom is a New York-based marketing and corporate communications company.
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