PERRYSBURG, Ohio, May 20, 2024 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE O-I Glass, Inc. (the Company) announced that Owens-Brockway Glass Container Inc. (OBGC), an indirect wholly owned subsidiary of the Company, priced a private offering (the Offering) of $300 million aggregate principal amount of its 7.
375% senior notes due 2032 (the Notes) at par. The net proceeds to OBGC from the Offering are expected to be approximately $297 million, after deducting commissions but before offering expenses payable by OBGC. OBGC's obligations under the Notes will be guaranteed on a joint and several basis by Owens-Illinois Group, Inc.
(NYSE: OI Group) and certain U.S. domestic subsidiaries of OI Group that are guarantors under OI Group's credit agreement.
The Offering is expected to close on May 30, 2024, subject to the satisfaction of customary closing conditions. OBGC expects to use the net proceeds from the Offering to redeem all of OBGC's outstanding 6.375% Senior Notes due 2025 (the 2025 OBGC Notes).
The Notes and the guarantees have not been registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or applicable state securities laws, and are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.
S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. Unless so registered, the Notes and the guarantees may .
