Owens-Brockway Glass Container Inc. Announces Commencement of Exchange Offer
August 03 2009 - 5:27PM
PR Newswire (US)
PERRYSBURG, Ohio, Aug. 3 /PRNewswire-FirstCall/ -- Owens-Illinois,
Inc. (NYSE:OI) today announced that Owens-Brockway Glass Container
Inc., an indirect wholly owned subsidiary of Owens-Illinois, Inc.,
has commenced a registered exchange offer to exchange $600 million
aggregate principal amount of its 7-3/8% Senior Notes due 2016
which have been registered under the Securities Act of 1933, as
amended (the "Exchange Notes") for any and all of the outstanding
$600 million aggregate principal amount of its 7-3/8% Senior Notes
due 2016 which have not been registered under the Securities Act
(the "Private Notes"). (Logo:
http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO ) The sole
purpose of the exchange offer is to fulfill the obligations of
Owens-Brockway Glass Container Inc. with respect to the
registration of the Private Notes. Pursuant to a registration
rights agreement entered into by Owens-Brockway Glass Container
Inc. in connection with the sale of the Private Notes,
Owens-Brockway Glass Container Inc. agreed to file with the
Securities and Exchange Commission a registration statement
relating to the exchange offer pursuant to which the Exchange
Notes, containing substantially identical terms to the Private
Notes, would be offered in exchange for Private Notes that are
tendered by the holders of those notes. Any Private Notes not
tendered for exchange in the exchange offer will remain outstanding
and continue to accrue interest, but will not retain any rights
under the registration rights agreement except in limited
circumstances. The terms of the exchange offer are contained in the
exchange offer prospectus. The exchange offer will expire at 5:00
p.m., New York City time, on August 31, 2009, unless extended.
Private Notes tendered pursuant to the exchange offer may be
withdrawn at any time prior to the expiration date by following the
procedures set forth in the exchange offer prospectus. Requests for
assistance or for copies of the exchange offer prospectus should be
directed to US Bank National Association, the exchange agent,
addressed as follows: U.S. Bank National Association 60 Livingston
Avenue St. Paul, Minnesota 55107 Attention: Corporate Trust
Department This announcement is not an offer to sell any securities
or a solicitation of any offer to buy any securities. The exchange
offer will be made only by means of a written prospectus. The
company routinely posts all important information on its Web site -
http://www.o-i.com/.
http://www.newscom.com/cgi-bin/prnh/20050412/CLTU028LOGO
http://photoarchive.ap.org/ DATASOURCE: Owens-Illinois, Inc.
CONTACT: Sasha Sekpeh, O-I Investor Relations, +1-567-336-2355, Web
Site: http://www.o-i.com/
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