Owens-Brockway Glass Container Inc. Announces Pricing of Senior Notes Offering

PERRYSBURG, Ohio, May 20, 2024 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE

O-I Glass, Inc. (the “Company”) announced that Owens-Brockway Glass Container Inc. (“OBGC”), an indirect wholly owned subsidiary of the Company, priced a private offering (the “Offering”) of $300 million aggregate principal amount of its 7.375% senior notes due 2032 (the “Notes”) at par. The net proceeds to OBGC from the Offering are expected to be approximately $297 million, after deducting commissions but before offering expenses payable by OBGC. OBGC’s obligations under the Notes will be guaranteed on a joint and several basis by Owens-Illinois Group, Inc. (“OI Group”) and certain U.S. domestic subsidiaries of OI Group that are guarantors under OI Group’s credit agreement. The Offering is expected to close on May 30, 2024, subject to the satisfaction of customary closing conditions.

OBGC expects to use the net proceeds from the Offering to redeem all of OBGC’s outstanding 6.375% Senior Notes due 2025 (the “2025 OBGC Notes”).

The Notes and the guarantees have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. Unless so registered, the Notes and the guarantees may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. Prospective purchasers that are qualified institutional buyers are hereby notified that the seller of the Notes may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A.

The information contained in this news release is for informational purposes only and shall not constitute a notice of redemption for the 2025 OBGC Notes or an offer to sell or the solicitation of an offer to buy the 2025 OBGC Notes, the Notes or the guarantees, nor shall there be any sale of the Notes and the guarantees in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.