Reported Earlier, Owens-Brockway Glass Container Prices Private Offering Of $300M 7.375% Senior Notes Offering Due 2032
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Owens-Brockway Glass Container (OBGC) has priced a private offering of $300 million in 7.375% senior notes due 2032. The net proceeds are expected to be approximately $297 million. The notes will be guaranteed by Owens-Illinois Group, Inc. (OI Group) and certain U.S. domestic subsidiaries. The offering is expected to close on May 30, 2024, subject to customary closing conditions.
May 21, 2024 | 6:59 am
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Owens-Illinois Group, Inc. (OI Group) is guaranteeing a $300 million senior notes offering by Owens-Brockway Glass Container. The net proceeds are expected to be $297 million, and the offering is set to close on May 30, 2024.
The successful pricing and expected closing of the senior notes offering will provide OBGC with significant capital, which is guaranteed by OI Group. This could positively impact OI's financial stability and creditworthiness.
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