Owens-Brockway Glass to bring $740 million notes in refinancing deal via Goldman Sachs

By Paul A. Harris

St. Louis, Nov. 16 - Owens-Brockway Glass Container Inc. is expected to bring an offering of approximately $740 million of senior notes, according to a market source, who added that precise size, structure and timing of the deal remain to be determined.

Goldman Sachs & Co. will run the books for the Rule 144A offering.

Proceeds together with borrowings under its secured credit agreement, if necessary, will be used to fund the purchase by Owens-Illinois Inc. of its $350 million of outstanding 7.15% senior notes due 2005, to fund the purchase by BSN Glasspack SA, an affiliate of Owens-Brockway Glass Container Inc., of the approximately €140 million of outstanding 10¼% senior subordinated notes due 2009 of BSN Financing Co. SA, and to fund the purchase by BSN Glasspack SA of €160 million of 9¼% senior subordinated notes due 2009 of BSN Glasspack Obligation SA.

Owens-Brockway Glass Container is a Toledo, Ohio-based container company.

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