Owens-Brockway will redeem $300 million of 5 7/8% notes due 2023

Chicago, Aug. 30 – Owens-Brockway Glass Container Inc. delivered a notice of partial redemption for the company’s 5 7/8% senior notes due 2023, according to a press release.

The company is redeeming $300 million principal amount.

The price will be par plus the applicable premium calculated in accordance with the terms of the notes and interest to the redemption date.

After the redemption on Sept. 9, there will be $250 million notes remaining.

Funding will come from cash on hand.

Owens-Brockway, a subsidiary of O-I Glass, Inc., is a Perrysburg, Ohio-based glass container manufacturer.

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