Debt

Lines of Credit

We have committed and uncommitted lines of credit. We have a $2.5 billion committed line of credit ("Credit Agreement") with a consortium of banks expiring on October 12, 2016. We have the ability to classify borrowings under the Credit Agreement as long-term. The Credit Agreement provides support for up to $1.5 billion of commercial paper issuances, as well as back-up liquidity in the event that any of our convertible notes are put back to us. The issuance of commercial paper reduces the amount available under the Credit Agreement. At June 30, 2012, there were no outstanding commercial paper issuances or borrowings under the Credit Agreement. At June 30, 2012 and December 31, 2011, we had various uncommitted lines of credit aggregating $799.3 million and $758.3 million, respectively.

Our available and unused lines of credit at June 30, 2012 and December 31, 2011 were (in millions):



	2012		2011


Credit Agreement	$	2,500.0	$	2,500.0
Uncommitted lines of credit	799.3		758.3


Available and unused lines of credit	$	3,299.3	$	3,258.3

Short-Term Borrowings

Short-term borrowings of $12.4 million and $9.5 million at June 30, 2012 and December 31, 2011, respectively, are primarily comprised of bank overdrafts and credit lines of our international subsidiaries. The bank overdrafts and credit lines are treated as unsecured loans pursuant to the bank agreements supporting the facilities.

Long-Term Notes Payable

Long-term notes payable at June 30, 2012 and December 31, 2011 were (in millions):



	2012			2011


5.90% Senior Notes due April 15, 2016	$	1,000.0		$	1,000.0
6.25% Senior Notes due July 15, 2019	500.0			500.0
4.45% Senior Notes due August 15, 2020	1,000.0			1,000.0
3.625% Senior Notes due May 1, 2022	750.0			—
Other notes and loans	0.5			1.3


	3,250.5			2,501.3
Unamortized discount on Senior Notes	(10.2		)	(7.6		)
Deferred gain from termination of interest rate swaps on Senior Notes due 2016	26.8			30.5


	3,267.1			2,524.2
Less current portion	0.4			0.7


Long-term notes payable	$	3,266.7		$	2,523.5

In April 2012, we issued $750 million aggregate principal amount of 3.625% Senior Notes due May 1, 2022 ("2022 Notes"). The proceeds from the issuance before deducting the underwriting discount and offering expenses were $746.8 million. The 2022 Notes were co-issued by Omnicom Group Inc. ("OGI") and two of its wholly owned finance subsidiaries, Omnicom Capital Inc. and Omnicom Finance Inc. ("OFI"), as co-obligors. The 2022 Notes are senior unsecured notes that rank in equal right of payment with all existing and future unsecured indebtedness as a joint and several liability of the issuer and the co-obligors. On July 20, 2012, OFI was merged with and into OGI. Pursuant to the merger, OGI has assumed OFI's obligations under the Senior Notes and Convertible Debt. Accordingly, OFI is no longer a co-obligor of our Senior Notes and Convertible Debt.

Convertible Debt

Convertible debt at June 30, 2012 and December 31, 2011 was (in millions):



	2012		2011


Convertible Notes - due July 31, 2032	$	252.7	$	252.7
Convertible Notes - due June 15, 2033	0.1		0.1
Convertible Notes - due July 1, 2038	406.6		406.6


	659.4		659.4
Less current portion	—		—


Convertible debt	$	659.4	$	659.4

The next date on which holders of our 2032 Notes can put their notes back to us for cash is July 31, 2012. The next date on which holders of our 2038 Notes can put their notes back to us for cash is June 17, 2013.