Owens-Brockway Glass Container Inc. Announces Proposed Private Offering of $650 Million of Senior Notes Denominated in U.S. Doll
November 22 2004 - 12:01AM
PR Newswire (US)
Owens-Brockway Glass Container Inc. Announces Proposed Private
Offering of $650 Million of Senior Notes Denominated in U.S.
Dollars and Euros TOLEDO, Ohio, Nov. 22 /PRNewswire-FirstCall/ --
Owens-Brockway Glass Container Inc., an indirect wholly owned
subsidiary of Owens-Illinois, Inc. (NYSE:OI), announced that it
intends to offer, subject to market and other conditions, $650
million aggregate principal amount of senior notes due 2014
denominated in U.S. Dollars and Euros in a private offering. The
Company intends to use the net proceeds of the offering, together
with borrowings under its secured credit agreement, if necessary,
to fund (i) the purchase by Owens-Illinois, Inc. of its $350
million of outstanding 7.15% Senior Notes due 2005, (ii) the
purchase by BSN Glasspack S.A., an affiliate of Owens-Brockway
Glass Container Inc., of the approximately 140 million euros of
outstanding 10-1/4% Senior Subordinated Notes due 2009 of BSN
Financing Co. S.A., (iii) the purchase by BSN Glasspack S.A. of the
approximately 160 million euros of outstanding 9-1/4% Senior
Subordinated Notes due 2009 of BSN Glasspack Obligation S.A., and
(iv) the payment of related fees and expenses. Owens-Illinois Inc.
and BSN Glasspack S.A. are currently engaged in tender offers for
these notes. The senior notes have not been registered under the
Securities Act of 1933, as amended, or applicable state securities
laws, and will be offered only to qualified institutional buyers in
reliance on Rule 144A and in offshore transactions pursuant to
Regulation S under the Securities Act of 1933, as amended. Unless
so registered, the senior notes may not be offered or sold in the
United States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws. 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.
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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