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Owens-Brockway Glass offers to buy 5 3/8% senior notes due 2025
Chicago, May 15 – Owens-Brockway Glass Container Inc. launched an any-and-all tender offer for its $300 million outstanding 5 3/8% senior notes due 2025 (Cusips: 690872AB2, U6S19GAC1), according to an offering document.
The company is offering a total consideration of $1,010 per $1,000 notes, plus interest to the settlement date.
The offer will expire at 5 p.m. ET on May 23, also the withdrawal deadline.
The tender offer is related to a new offering of $690 million of 7¼% senior notes due 2031, which is expected to close on May 25. The tender offer is expected to be funded by the new notes and cash on hand. The completion of the new offering constitutes a financing condition for the tender offer.
Settlement of the tender offer is expected to be May 26.
There are guaranteed delivery procedures. Noteholders who utilize that method need to submit their notes by 5 p.m. ET on May 25.
Wells Fargo Securities is the dealer manager (866 309-6316, 704 410-4759, liabilitymanagement@wellsfargo.com).
D.F. King & Co., Inc. is the information and tender agent for the offer (800 714-3306, 212 269-5550, owens@dfking.com, www.dfking.com/owens-brockway).
Owens-Brockway is a Perrysburg, Ohio-based glass container manufacturer.
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