OI European Group B.V. Announces Proposed Private Offering of 300 Million Euro of Senior Notes
March 02 2007 - 2:30AM
PR Newswire (US)
PERRYSBURG, Ohio, March 2 /PRNewswire-FirstCall/ -- OI European
Group B.V., an indirect wholly owned subsidiary of Owens-Illinois,
Inc. (NYSE:OI), announced that it intends to offer, subject to
market and other conditions, 300 million euros aggregate principal
amount of senior notes due 2017 in a private offering. OI European
Group B.V. intends to use the net proceeds of the offering to repay
borrowings under its existing secured credit agreement. In May
2007, a subsidiary borrower of Owens-Illinois, Inc., intends to
borrow under the secured credit agreement in order to repay all
outstanding $300 million of Owens-Illinois, Inc.'s, 8.10% Senior
Notes due May 15, 2007. The notes have not been and will not be
registered under the Securities Act of 1933, as amended (the
"Act"), and are being offered and sold in the United States only to
qualified institutional buyers in reliance on Rule 144A under the
Act and to certain non-U.S. persons in transactions outside the
United States in reliance on Regulation S under the Act.
Prospective purchasers that are qualified institutional buyers are
hereby notified that the seller of the notes may be relying on the
exemption from the provisions of Section 5 of the Act provided by
Rule 144A. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any state in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state. Forward Looking Statements This news release contains
'forward-looking' statements within the meaning of Section 21E of
the Securities Exchange Act of 1934 and Section 27A of the Act.
Forward-looking statements reflect current expectations and
projections about future events at the time, and thus involve
uncertainty and risk. It is possible that future financial
performance may differ from expectations due to a variety of risks
and other factors such as those described in Owens- Illinois,
Inc.'s, Form 10-K for the year ended December 31, 2006, filed with
the U.S. Securities and Exchange Commission on March 1, 2007. It is
not possible to foresee or identify all such factors. Any
forward-looking statements in this news release are based on
certain assumptions and analyses made in light of its experience
and perception of historical trends, current conditions, expected
future developments, and other factors it believes are appropriate
in the circumstances. Forward-looking statements are not a
guarantee of future performance and actual results or developments
may differ materially from expectations. While OI continually
reviews trends and uncertainties affecting its results of
operations and financial condition, OI does not intend to update
any particular forward-looking statements contained in this news
release. DATASOURCE: Owens-Illinois, Inc. CONTACT: Kelley Yoder, of
Owens-Illinois, Inc., Corporate Communications, +1-567-336-1388 Web
site: http://www.o-i.com/
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