08:44 AM EDT, 08/25/2025 (MT Newswires) -- Omnicom ( OMC ) said Monday it received sufficient tenders by the early deadline in its exchange offers and consent solicitations for Interpublic Group (IPG) notes.

As of Aug. 22, $2.75 billion of IPG's $2.95 billion in outstanding notes had been validly tendered, representing more than 93% of the total, the company said.

The consents allow Omnicom ( OMC ) to amend IPG's indentures to eliminate certain covenants and events of default, which will take effect upon settlement of the exchange offers, it added.

Holders who tendered by the early deadline will receive new Omnicom ( OMC ) senior notes on a one-for-one basis plus a $1 cash consent payment per $1,000 principal amount, Omnicom ( OMC ) said.

Later tenders before the Sept. 9 expiration will be exchanged for new notes without the consent payment, the company added.

Omnicom ( OMC ) also said settlement is expected within two business days of expiration, subject to completion of Omnicom's ( OMC ) pending merger with IPG.