Owens-Brockway to redeem all outstanding 7 3/8% senior notes due 2016

By Wendy Van Sickle

Columbus, Ohio, Sept. 3 – Owens-Brockway Glass Container Inc. will redeem all of its outstanding 7 3/8% senior notes due 2016, according to an 8-K filed with the Securities and Exchange Commission.

The notes will be redeemed on Sept. 1 at the greater of (1) 100% of the redemption amount or (2) the value at the redemption date of (i) 100% of the redemption amount plus (ii) the remaining scheduled interest through May 15, 2016 computed using a discount rate equal to the treasury rate plus 50 basis points.

Owens-Brockway is a Perrysburg, Ohio-based glass container manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.