Owens-Illinois Group, Inc. (the “Company”) announced that its wholly-owned subsidiary, OI European Group B.V. (“OI Europe”), has delivered (i) a notice of redemption to holders of OI Europe’s outstanding 6.75 percent senior notes due 2020 (the “2020 Notes”) calling for the redemption of the remaining 250 million EUR aggregate principal amount of outstanding 2020 Notes and (ii) a notice of partial redemption to holders of OI Europe’s outstanding 4.875 percent senior notes due 2021 (the “2021 Notes” and, together with the 2020 Notes, the “Notes”) calling for the redemption of 212 million EUR aggregate principal amount of the outstanding 2021 Notes. Following the partial redemption of the 2021 Notes, 118 million EUR aggregate principal amount of the 2021 Notes will remain outstanding.
The redemption date for each redemption will be November 22, 2019. In accordance with the terms of the Notes and the related indentures under which the Notes were issued, each series of 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 applicable Notes and the related indenture, and the accrued and unpaid interest on the applicable Notes up to, but not including, the redemption date. The Company intends to fund each redemption with proceeds from the previously announced offering by OI Europe of 500 million EUR aggregate principal amount of 2.875 percent senior notes due 2025.
Questions relating to the notices of redemption and related materials should be directed to Deutsche Bank AG, London Branch, in its capacity as paying agent for the redemptions of the Notes (the “Paying Agent”), at tss-gds.row@db.com. The address of the Paying Agent is Winchester House, 1 Great Winchester Street, London EC2N 2DB, UK.