NEW YORK, May 24 /PRNewswire-FirstCall/ -- Omnicom Group Inc. (NYSE: OMC) announced the extension of its multiyear revolving credit facility to May 2010 and increased the amount available for borrowings under the facility to $2.1 billion.
Omnicom has also received commitments for a new 364-day revolving credit facility which provides for up to $400 million of borrowings. The terms of the commitments provide that the facility will be available from June 2005 through June 2006 and Omnicom will have the right to convert borrowings at maturity into a one year term loan.
There were no borrowings outstanding under the prior revolving credit facilities at March 31, 2005.
Omnicom (http://www.omnicomgroup.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]