NEW YORK, May 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 2033 to amend the Notes and the related Indenture to, among other things, (i) extend the maturity date of the Notes to July 1, 2038; (ii) extend the contingent cash interest payment dates through June 15, 2038; (iii) extend the holders' put rights to include June 15, 2033, 2034, 2035, 2036 and 2037; (iv) extend the conversion rights associated with the Notes to July 1, 2038; and (v) amend the comparable yield as determined on the effective date of the consent solicitation, the estimated amount of which will be publicly announced after the close of business on June 13, 2006.
Pursuant to the consent solicitation, Omnicom will make a cash payment, as promptly as practicable after the effective date of the consent solicitation, to each holder of Notes who (i) has not, as of immediately following the close of business on June 15, 2006, exercised its right pursuant to the Indenture to require Omnicom to repurchase its Notes or, if exercised, has withdrawn such exercise by the close of business on June 16, 2006, and (ii) has delivered and not withdrawn a valid consent to the amendments described above prior to the close of business on June 27, 2006. Omnicom will determine the amount of the cash payment after the close of business on June 13, 2006.
The Consent Solicitation Statement relating to the consent solicitation and proposed amendments is available on our website at http://ld.livedelivery.com/F/3595513/_OC250721128.pdf or by calling Omnicom at (212) 415-3393.
Omnicom Group Inc. (NYSE: OMC) (http://www.omnicomgroup.com) is a leading global 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.
Katie Beaule [email protected]