New Issue: Owens-Illinois prices €500 million 10-year notes at par to yield 6¾%

By Paul A. Harris

St. Louis, Sept. 10 - OI European Group BV, an indirect wholly owned subsidiary of Owens-Illinois Group Inc., priced a €500 million issue of 10-year senior notes (Ba2/BB+/) at par to yield 6¾% on Friday, according to informed sources.

The yield printed on top of the 6¾% area price talk.

Citigroup Global Markets Inc. and BNP Paribas Securities Corp. were the global coordinators and joint bookrunners. Bank of America Merrill Lynch, Barclays Capital Inc., Credit Agricole CIB, Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. also were joint bookrunners.

The Perrysburg, Ohio-based glass company intends to use the proceeds to repay Owens-Illinois Group's credit facility.

Issuer:	OI European Group BV
Amount:	€500 million
Maturity:	Sept. 15, 2020
Securities:	Senior notes
Global coordinators:	Citigroup Global Markets Inc., BNP Paribas Securities Corp.
Joint bookrunners:	Bank of America Merrill Lynch, Barclays Capital Inc., BNP Paribas, Citigroup, Credit Agricole CIB, Deutsche Bank Securities Inc., J.P. Morgan Securities Inc.
Coupon:	6¾%
Price:	Par
Yield:	6¾%
Trade date:	Sept. 10
Settlement date:	Sept. 15
Ratings:	Moody's: Ba2
	Standard & Poor's: BB+
Distribution:	Rule 144A and Regulation S
Price talk:	6¾% area
Marketing:	Roadshow

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