Owens-Illinois gets tenders for 91.07% of 7.8% debentures due 2018

By Susanna Moon

Chicago, March 15 – Owens-Illinois, Inc. said investors had tendered $227,664,000, or 91.07%, of its $250 million principal amount of outstanding 7.8% senior debentures due 2018.

Owens-Illinois expects to accept for purchase all of the tendered debentures for a total cash payment of $249,936,369, which includes accrued interest, according to a company update.

As announced March 8, the purchase price will be $1,071.83 per $1,000 principal amount plus accrued interest to but excluding the settlement date of March 15.

The tender offer ended at 5 p.m. ET on March 14.

Settlement for notes delivered under the guaranteed delivery procedures will occur on March 17.

Credit Agricole CIB (866 807-6030 or 212 261-7802) is the dealer manager. The information agent is Global Bondholder Services Corp. (866 470-3900, 212 430-3774, contact@gbsc-usa.com or gbsc-usa.com/Owens-Illinois/).

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

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