Owens-Illinois launches €200 million add-on to 3 1/8% notes due 2024

By Paul A. Harris

Portland, Ore., March 20 – Owens-Illinois Group, Inc. announced in a Monday press release that it launched a €200 million add-on to OI European Group BV’s 3 1/8% senior notes due Nov. 15, 2024 via Rule 144A and Regulation S.

Proceeds will be used to pay down the company’s revolving credit facility.

Owens-Illinois is a Perrysburg, Ohio-based glass container manufacturer. OI European Group is an indirect wholly owned subsidiary based in Schiedam, Netherlands.

The original €600 million issue priced at par on Oct. 28, 2016.

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