-- Owens-Brockway Glass Container, an indirect wholly owned subsidiary of O-I Glass (OI), plans a private offering of $500 million aggregate principal amount of senior notes due 2033 to eligible purchasers, O-I Glass said Monday.
The notes will be guaranteed on a joint and several basis by Owens-Illinois Group and certain U.S. domestic subsidiaries of OI Group, the company said.
Owens-Brockway Glass Container expects to use the net proceeds from the offering, together with cash on hand and borrowings under the company's revolving credit facility, to redeem all of its outstanding 6.625% senior notes due 2027.
Price: $9.43, Change: $-0.06, Percent Change: -0.63%