O-I Glass to redeem all 4 7/8% notes, some 5% notes via new notes

By Sarah Lizee

Olympia, Wash., May 6 – O-I Glass, Inc. plans to redeem the remaining €118 million of OI European Group BV’s 4 7/8% notes due 2021 and a portion of Owens-Brockway Glass Container Inc.’s outstanding 5% senior notes due 2022 using proceeds from a new offering, according to a press release.

The company announced Wednesday that Owens-Brockway Glass Container plans to sell $500 million senior notes due 2027.

Proceeds from the offering will also be used to repay $105 million of outstanding borrowings under a bilateral term loan due 2021.

O-I Glass is a Perrysburg, Ohio-based glass container manufacturer.

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