debt
confidence high
sentiment neutral
materiality 0.55
Omnicom closes $600M offering of 5.300% Senior Notes due 2034 to refinance maturing debt
OMNICOM GROUP INC.
- Issued $600M aggregate principal of 5.300% Senior Notes due Nov 1, 2034, net proceeds ~$592.4M.
- Net proceeds plus cash will fund repayment of $750M 3.65% Senior Notes maturing Nov 1, 2024.
- Notes are unsecured senior obligations, ranking equally with existing unsubordinated debt.
- Redeemable at make-whole premium prior to Aug 1, 2034; change-of-control repurchase at 101%.