O-I Glass To Raise $400M Via Debt Offering

O-I Glass Inc's OI subsidiary, OI European Group B.V., has launched $400 million of its senior notes due 2030 in a private offering.
OI Europe's obligations under the senior notes will be guaranteed on a joint and several basis by Owens-Illinois Group, Inc. and certain U.S. domestic subsidiaries of OI Group.
The company expects to use the net proceeds from the offering, together with cash on hand, to fully redeem OI Europe's 4.000% Senior Notes due 2023 and repay the term loan facility.
Price Action: OI shares are trading lower by 1.07% at $12.93 on the last check Monday.

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