NEW YORK, July 30 /PRNewswire-FirstCall/ -- Omnicom Group Inc. (NYSE: OMC)
announced today that it is seeking the consent of the holders of its Zero
Coupon Zero Yield Convertible Notes due 2032 (the "Notes") to amend the Notes
and the related Indenture to, among other things, (i) have noteholders waive
their right to contingent cash interest, if payable, from October 31, 2008
through and including August 1, 2010 (the "Waiver Period") and (ii) eliminate
Omnicom's right to redeem the 2032 Notes prior to August 2, 2010. The consent
solicitation will expire on August 28, 2008.
Pursuant to the consent solicitation, Omnicom will make a cash payment
equal to $25.00 per $1,000 aggregate principal amount of Notes, as promptly as
practicable after the effective date of the consent solicitation, to a
noteholder who (i) has not, as of immediately following the close of business
on July 31, 2008, exercised its right pursuant to the Indenture to require
Omnicom to repurchase its Notes or, if exercised, has withdrawn such exercise
by the close of business on August 1, 2008, and (ii) has delivered and not
withdrawn a valid consent to the amendments described above prior to the close
of business on August 28, 2008.
This press release is not an offer to purchase, a solicitation of an offer
to purchase or a solicitation of consents with respect to any Notes, nor is
this announcement an offer or solicitation of an offer to sell new securities.
The consent solicitation is being made solely by the Consent Solicitation
Statement, copies of which are available from Omnicom on its website
(http://files.liveadmaker.com/F/13583430/_OC301987676.pdf) or by calling
Omnicom at (212) 415-3393.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com). Omnicom is a
leading global marketing and corporate communications company. Omnicom's
branded networks and numerous specialty firms provide advertising, strategic
media planning and buying, digital and interactive marketing, 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.
/CONTACT: Omnicom, +1-212-415-3393/
/Web site: http://www.omnicomgroup.com
CO: Omnicom Group Inc.
ST: New York
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1997 07/30/2008 18:32 EDT http://www.prnewswire.com
Katie Beaule [email protected]