Citibank Agents Omnicom Revolver Amendment
Omnicom Group announced the amendment and extension of its multi-year revolving credit facility to July 2019. Amounts available for borrowings under the facility are unchanged at $2.5 billion.
According to the company’s 8K filing, Citigroup Global Markets, J.P. Morgan Securities, HSBC Securities (USA) and Wells Fargo Securities served as lead arrangers and book managers; JPMorgan Chase Bank, HSBC Securities (USA) and Wells Fargo Bank served as syndication agents; BNP Paribas and U.S. Bank were documentation agents; and Citibank was administrative agent.
The facility includes a provision to increase the commitment by up to $500 million without further amendment at the option of Omnicom. The agreement also now includes an option to extend the facility for an additional year at both the first and second anniversary of the effective date with each bank’s approval.
There were no borrowings outstanding under the prior revolving credit facility at June 30, 2014.
Omnicom Group is a global marketing and corporate communications company.