NEW YORK, July 14 /PRNewswire-FirstCall/ -- Omnicom Group Inc. (NYSE: OMC)
announced today that it has amended the provisions of its Liquid Yield
Option(TM) Notes due 2031 (the "2031 Notes") and its Zero Coupon Zero Yield
Convertible Notes due 2032 (the "2032 Notes") to limit when Omnicom can
exercise its redemption option.
Omnicom had the right to redeem the 2031 Notes beginning on February 7,
2009 and any time thereafter. The amendment permits Omnicom to redeem the
2031 Notes only on the following dates between 2009 and 2014: February 9,
2009, February 1, 2010, February 1, 2011, February 1, 2012 and February 1,
2013. On or after February 7, 2014, Omnicom will revert back to its right to
redeem the 2031 Notes at any time.
Omnicom had the right to redeem the 2032 Notes beginning on July 31, 2009
and any time thereafter. The amendment permits Omnicom to redeem the 2032
Notes only on the following dates between 2009 and 2014: July 31, 2009,
August 2, 2010, August 1, 2011, July 31, 2012 and July 31, 2013. On or after
July 31, 2014, Omnicom will revert back to its right to redeem the 2032 Notes
at any time.
Under the terms of the indentures governing the 2031 Notes and the 2032
Notes, Omnicom will notify holders at least 30 days prior to any redemption.
The effect of the amendments during the five-year period from 2009 to 2014
will be to permit Noteholders to know with certainty whether Omnicom intends
to redeem the 2031 Notes or 2032 Notes before deciding whether to exercise
their right to require Omnicom to repurchase their notes.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com). Omnicom 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, 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: Randall Weisenburger of Omnicom Group Inc., +1-212-415-3393/
/Web site: http://www.omnicomgroup.com /
CO: Omnicom Group Inc.
ST: New York
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3172 07/14/2008 17:16 EDT http://www.prnewswire.com
Katie Beaule [email protected]