Owens-Illinois to repay $568 million term loan B via new notes

By Marisa Wong

Morgantown, W.Va., Oct. 27 – Owens-Illinois Group, Inc. said it expects to repay its outstanding term loan B using proceeds from an offering of senior notes.

The term loan had $568 million outstanding as of Sept. 30, according to a press release.

The company announced on Thursday that it plans to issue €600 million of senior notes due 2024.

Any remaining proceeds from the new notes will be used for general corporate purposes.

The glass container manufacturer is based in Perrysburg, Ohio, and Schiedam, Netherlands.

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