Owens-Illinois takes charge for debt repayment

Owens-Illinois, Inc. said it recorded an after-tax charge of US$ 6.7 million in the first quarter related to the repayment of borrowings under a term loan. According to the company“s 10-K filing rele…

Owens-Illinois, Inc. said it recorded an after-tax charge of US$ 6.7 million in the first quarter related to the repayment of borrowings under a term loan. According to the company“s 10-K filing released on 1 April by the Securities and Exchange Commission, the term loan was paid down US$ 980 million in January with proceeds from the private issuance of US$ 1 billion in senior secured notes by an Owens-Illinois subsidiary. The charge reflects the write-off of unamortized deferred financing fees and totals US$ 10.9 million, less applicable income taxes of US$ 4.2 million, the filing said. Toledo, Ohio-based Owens-Illinois makes glass containers in North and South America, Australia, New Zealand, China and Europe.