Owens-Brockway to hold conference call Friday for $300 million 10-year notes

By Paul A. Harris

St. Louis, Mo., Oct. 31 - Owens-Brockway Glass Container Inc. will hold an investor conference call on Friday for an offering of $300 million senior secured notes due 2012 (B2/BB), according to a syndicate source.

Salomon Smith Barney, Banc of America Securities and Deutsche Bank Securities Inc. are the joint bookrunners.

The Rule 144A notes will be non-callable for five years and contain an equity clawback of 35% for three years.

Proceeds will be used to repay bank debt.

The issuer, a wholly-owned subsidiary of Owens-Illinois Inc., manufactures glass and plastic packaging, and is headquartered in Toledo, Oh.

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