Owens-Brockway Glass Container, Inc. has agreed to raise USD 300 million through a private placement of senior notes due 2016.
Owens-Brockway reported that it intends to use the net proceeds to fund …
Owens-Brockway Glass Container, Inc. has agreed to raise USD 300 million through a private placement of senior notes due 2016. Owens-Brockway reported that it intends to use the net proceeds to fund the repayment or purchase of Owens-Illinois“s USD 250 million of 7.5% senior debentures due 15 May 2010, as well as for general corporate purposes. Owens-Illinois is a US-based manufacturer of glass containers, and is an indirect wholly-owned subsidiary of Owens-Illinois, Inc. JP Morgan, Bank of America, and Deutsche Bank are acting as joint book-running managers for the offering.