14 May 1998: US-based Owens-Illinois Inc., maker of glass containers and plastic packaging, said it plans to issue a combination of public debt and equity securities totalling around US$ 2 billion, in…
14 May 1998: US-based Owens-Illinois Inc., maker of glass containers and plastic packaging, said it plans to issue a combination of public debt and equity securities totalling around US$ 2 billion, in an effort to reduce bank borrowings. The company said in a statement the refinancing includes proposed public offerings of 12.6 million shares of common stock, 7 million shares of convertible preferred stock, US$ 250 million of senior notes due in 2005, US$ 300 million of senior notes due in 2008, US$ 300 million of senior debentures due in 2010, and US$ 250 million of senior debentures due in 2018. In the proposed common stock offering, all of the shares will be sold by the company. As of 30 April, the company had around 140.8 million shares outstanding.