Owens-Illinois’ OI European launches €300 million green bonds

By Marisa Wong

Los Angeles, Nov. 5 – Owens-Illinois Group, Inc. announced that indirect wholly owned subsidiary OI European Group BV plans to issue €300 million of senior notes due 2025.

Proceeds from the Rule 144A and Regulation S offering will be used to redeem the remaining €250 million of OI Europe’s outstanding 6¾% senior notes due 2020, with any remaining proceeds to be used to repay outstanding borrowings under its credit facilities and for general corporate purposes.

In addition, the company intends to allocate an amount equal to the net proceeds from the notes offering to finance or refinance new or existing eligible green projects, according to a news release.

Owens-Illinois is a glass bottle and jar producer based in Perrysburg, Ohio.

© 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.