Owens-Illinois, Inc. Announces Results to Date of Its Tender Offer for Its $250,000,000 7-1/2% Senior Debentures due 2010
May 28 2009 - 8:50AM
PR Newswire (US)
PERRYSBURG, Ohio, May 28 /PRNewswire-FirstCall/ -- Owens-Illinois,
Inc. ("Owens-Illinois") (NYSE:OI) announced that, as of 5:00 p.m.,
New York City time, on May 27, 2009 (the "Early Tender Date"), a
total of approximately $220.2 million in aggregate principal amount
of its outstanding $250,000,000 7-1/2% Senior Debentures due 2010
(the "Notes"), representing approximately 88% of the outstanding
Notes, have been tendered pursuant to its cash tender offer for any
and all of the outstanding Notes. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO ) Holders
who validly tendered their Notes at or prior to the Early Tender
Date will be entitled to receive $1,040, payable in cash, for each
$1,000 principal amount of Notes validly tendered and accepted for
payment, which amount includes an early tender payment of $10.00
per $1,000 of Notes validly tendered and accepted for payment.
Holders who validly tender their Notes after the Early Tender Date
but prior to the Expiration Date (as defined below) will receive
$1,030 per $1,000 principal amount of Notes validly tendered and
accepted for payment but will not receive the early tender payment.
Accrued and unpaid interest up to, but not including, the
settlement date will be paid in cash on all validly tendered and
accepted Notes. The tender offer will expire at midnight, New York
City time, on June 10, 2009, unless extended or earlier terminated
(the "Expiration Date"). The settlement date will be promptly after
the Expiration Date and, assuming the offer is not extended or
earlier terminated, is expected to be on or about June 11, 2009.
Withdrawal rights with respect to tendered Notes have expired.
Accordingly, holders may not withdraw any Notes previously or
hereafter tendered, except as contemplated in the tender offer. The
terms and conditions of the tender offer, including Owens-Illinois'
obligation to accept the Notes tendered and pay the purchase price
therefor, are set forth in Owens-Illinois' Offer to Purchase dated
May 13, 2009. Owens-Illinois may amend, extend or, subject to
certain conditions, terminate the tender offer. Owens-Illinois has
retained J.P. Morgan Securities Inc., Banc of America Securities
LLC and Deutsche Bank Securities Inc. as dealer managers in
connection with the tender offer. Questions regarding the tender
offer and requests for documents may be directed to J.P. Morgan
Securities Inc. at (800) 245-8812 (U.S. toll-free) and (212)
270-3994 (collect), Banc of America Securities LLC at (888)
292-0070 (U.S. toll-free) and (980) 388-9217 (collect) and to
Deutsche Bank Securities Inc. at (866) 627-0319 (U.S. toll-free)
and (212) 250-2955 (collect). Questions regarding the tender offer
and requests for documents may also be directed to the information
agent, Global Bondholder Services Corporation at (866) 795-2200
(U.S. toll-free) and (212) 430-3774 (collect). This press release
is for informational purposes and shall not constitute an offer to
purchase or a solicitation of an offer to purchase with respect to
any securities. Any such offer or solicitation will be made only by
means of the Offer to Purchase dated May 13, 2009. This press
release contains "forward looking" statements. Any forward looking
statements in this press release are based on certain assumptions
and expectations made by Owens-Illinois in light of its experience
and expectations with respect to future developments and other
factors it believes are appropriate in the circumstances. Forward
looking statements are not a guarantee of future events and actual
results or developments may differ materially from expectations.
http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO
http://photoarchive.ap.org/ DATASOURCE: Owens-Illinois, Inc.
CONTACT: Sasha Sekpeh, Investor Relations, +1-567-336-2355, or
Stephanie Johnston, Corporate Communications, +1-567-336-7199, both
of Owens-Illinois, Inc. Web Site: http://www.o-i.com/
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