Owens-Brockway Glass Container Inc. Announces Commencement of Exchange Offer
April 25 2005 - 6:01PM
PR Newswire (US)
Owens-Brockway Glass Container Inc. Announces Commencement of
Exchange Offer TOLEDO, Ohio, April 25 /PRNewswire-FirstCall/ --
Owens-Illinois, Inc. (NYSE:OI) today announced that Owens-Brockway
Glass Container Inc., an indirect wholly owned subsidiary of
Owens-Illinois, has commenced a registered exchange offer to
exchange (1) $400 million aggregate principal amount of its 6-3/4%
Senior Notes due 2014 which have been registered under the
Securities Act of 1933, as amended (the "Exchange Dollar Notes")
for any and all of the outstanding $400 million aggregate principal
amount of its 6-3/4% Senior Notes due 2014 which have not been
registered under the Securities Act (the "Private Dollar Notes")
and (2) 225 million euros aggregate principal amount of its 6-3/4%
Senior Notes due 2014 which have been registered under the
Securities Act (the "Exchange Euro Notes" and together with the
Exchange Dollar Notes, the "Exchange Notes") for any and all of the
outstanding 225 million euros aggregate principal amount of its
6-3/4% Senior Notes due 2014 which have not been registered under
the Securities Act (the "Private Euro Notes" and together with the
Private Dollar Notes, the "Private Notes"). 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 May 23, 2005, 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be withdrawn at any time prior to the expiration date by following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 Deutsche Bank Trust Company of Americas, the
dollar notes exchange agent, at (800) 735-7777 to Deutsche Bank AG,
acting through its London Branch, the euro notes exchange agent, at
+44-207-547-5000, as applicable. 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. DATASOURCE: Owens-Illinois, Inc. CONTACT: Sara
Theis of Owens-Illinois, Inc., +1-419-247-1297 Web site:
http://www.o-i.com/
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