Publicis Groupe exercises call on 3.125% convertibles due 2014

By Tali David

Minneapolis, July 20 - Publicis Groupe SA exercised its early redemption option on all of its 3.125% convertible bonds due July 30, 2014, according to a press release

Bondholders had the option to exercise their conversion/exchange rights to receive Publicis Groupe shares until July 19 at the rate of 1.006 Publicis shares per tendered bond.

Publicis said that 24,257,895 bonds were tendered at par of €27.90 for a total of €676,795,270.

Based on the ratio of 1.006 shares per tendered bond, Publicis will issue 24,403,416 new shares on July 30.

The 11,016 bonds that were not tendered will be redeemed on July 30 at €28.3359375 per bond, including accrued interest, for a total of €312,149.

Publicis is an advertising firm based in Paris.

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