O-I Glass To Raise $400M Via Debt Offering

  • O-I Glass Inc's OI subsidiary, OI European Group B.V., has launched $400 million of its senior notes due 2030 in a private offering.
  • OI Europe's obligations under the senior notes will be guaranteed on a joint and several basis by Owens-Illinois Group, Inc. and certain U.S. domestic subsidiaries of OI Group.
  • The company expects to use the net proceeds from the offering, together with cash on hand, to fully redeem OI Europe's 4.000% Senior Notes due 2023 and repay the term loan facility.
  • Price Action: OI shares are trading lower by 1.07% at $12.93 on the last check Monday.
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