NEW YORK, May 24 /PRNewswire-FirstCall/ -- Omnicom Group Inc. (NYSE: OMC) announced today that it replaced its existing revolving credit facilities with two new credit facilities, a five year facility which provides for up to $1.5 billion of borrowings and is available through May, 2009, and a 364-day facility which provides for up to $500 million of borrowings and is available through May, 2005. Under the 364-day facility, Omnicom may elect to convert borrowings at maturity into a one year term loan.
There were no borrowings outstanding under the prior bank credit facilities at March 31, 2004.
Omnicom (www.omincomgroup.com) is a leading global advertising, marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
SOURCE Omnicom Group Inc.
Katie Beaule [email protected]