Owens-Brockway Glass Container Inc. Announces Proposed Private Offering
November 15 2004 - 5:00PM
PR Newswire (US)
Owens-Brockway Glass Container Inc. Announces Proposed Private
Offering TOLEDO, Ohio, Nov. 15 /PRNewswire-FirstCall/ --
Owens-Brockway Glass Container Inc., an indirect wholly owned
subsidiary of Owens-Illinois, Inc., announced today that it intends
to offer, subject to market and other conditions, senior notes in a
private offering. Owens-Brockway Glass Container Inc. will use a
portion of 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. 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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