Omnicom solicits consents to extend maturity, amend other terms of 0% convertibles due 2033

New York, May 30 - Omnicom Group Inc. announced it is seeking consents to extend the maturity and to make other changes to its zero-coupon zero-yield convertible notes due 2033.

The New York-based marketing and corporate communications company is looking to extend the maturity to July 1, 2038 from June 15, 2033, similarly extend the contingent cash interest payment dates through June 15, 2038, add puts in June 15, 2033, 2034, 2035, 2036 and 2037, extend the conversion rights for the notes to July 1, 2038 and amend the comparable yield for accrued original issue discount, currently 4.60%.

The new yield will be determined on the effective date of the consent solicitation; the estimated amount will be announced after the close of business on June 13.

Holders who consent by 5 p.m. ET on June 27 and do not exercise the upcoming put on June 16 will receive a cash payment. The size will be fixed after the close of business on June 13.

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