Loan & DebtMay 4, 2026, 05:03 PM
O-I Glass Subsidiary Prices $500M Senior Notes Due 2033 at 9.500%
AI Summary
O-I Glass, Inc.'s indirect wholly owned subsidiary, Owens-Brockway Glass Container Inc. (OBGC), priced a private offering of $500 million aggregate principal amount of 9.500% senior notes due 2033. The net proceeds, approximately $495 million, will be used to redeem all of OBGC's outstanding 6.625% Senior Notes due 2027. The offering is expected to close on May 18, 2026, subject to customary closing conditions.
Key Highlights
- O-I Glass subsidiary priced a private offering of $500 million aggregate principal amount of senior notes.
- The new senior notes carry an interest rate of 9.500% and are due in 2033.
- Net proceeds from the offering are expected to be approximately $495 million.
- Proceeds will be used to redeem all outstanding 6.625% Senior Notes due 2027.
- The offering is expected to close on May 18, 2026.
- Notes are guaranteed by Owens-Illinois Group, Inc. and certain U.S. domestic subsidiaries.
Price Impact
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