Owens-Illinois’ Owens-Brockway calls $300 million of 7 3/8% notes

By Angela McDaniels

Tacoma, Wash., May 4 – Owens-Illinois Group, Inc. subsidiary Owens-Brockway Glass Container Inc. will redeem $300 million of its 7 3/8% senior notes due 2016 on May 19, according to an 8-K filing with the Securities and Exchange Commission.

The make-whole redemption will be made at Treasuries plus 50 basis points plus accrued interest.

The issuer priced $600 million of the notes in 2009.

Owens-Illinois is a Perrysburg, Ohio-based glass container maker.

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