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OI European Group B.V. Issues Notice of Partial Redemption for 6.75% Senior Notes due 2020

Post Time:Jul 23,2019Classify:Industry NewsView:934

Owens-Illinois Group, Inc. (the “Company”) announced that its wholly-owned subsidiary, OI European Group B.V. (“O-I Europe”), has delivered a notice of partial redemption to holders of O-I Europe’s outstanding 6.75% senior notes due 2020 (the “Notes”) calling for the redemption of €250 million aggregate principal amount of the outstanding Notes.

Following the redemption, €250 million aggregate principal amount of the Notes will remain outstanding.

The redemption date will be July 12, 2019. In accordance with the terms of the Notes and the related indenture under which the Notes were issued, the Notes will be redeemed at a price equal to the sum of the principal amount of the Notes to be redeemed, the applicable premium calculated in accordance with the terms of the Notes and the related indenture, and the accrued and unpaid interest on the Notes up to, but not including, the redemption date. The Company intends to fund the redemption with cash on hand and revolver borrowings.


Source: glassglobalAuthor: shangyi

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