O-I Announces Sustainable Improvement Loan
15 Outubro 2019 - 12:00PM
Owens-Illinois, Inc. (NYSE: OI), a global leader in food and
beverage packaging, is furthering its commitment to sustainability
by securing a $225 million bank loan, with a sustainability-linked
pricing mechanism. The loan will be issued to OI European Group BV,
a wholly owned subsidiary, and proceeds will be used to retire
existing bank debt. Funding will be provided by Bank of America,
who also will serve as Sustainability Coordinator for this
transaction.
The bank loan is one of the first sustainable improvement loans
in the Food and Packaging Industry. The interest rate on the loan
is indexed to O-I’s overall Environmental, Social and Governance
(ESG) Score as rated by Sustainalytics. Improvements in O-I’s ESG
score will reduce the interest rate under the bank loan.
“Sustainability is key to our Company, investors, customers and
consumers. This financing reinforces our commitment to
sustainability by linking the rate structure of the loan to an
independent assessment of our continued efforts to improve and
advance the Company’s sustainability practices,” said John
Haudrich, Chief Financial Officer. “We are extremely proud of the
product we make, and we believe the environmental and health
benefits of glass packaging are an important component to the
Company’s overall success.”
This is another important step in elevating the strong
sustainability elements of glass packaging, as well as
demonstrating the Company’s commitment to optimize the
environmental impact of its manufacturing processes and products.
Recently, the Company received improved ratings from two non-profit
sustainability certifications: Cradle to Cradle and EcoVadis.
“We have made significant progress, but the journey continues.
Glass packaging is healthy, safe and 100% recyclable. We take great
pride knowing the food and beverages that you consume are being
provided in a product that is kind to our planet,” said Jim
Nordmeyer, VP, Global Sustainability.
For more information on O-I’s commitment to Sustainability,
please visit www.o-i.com.
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About O-I
At Owens-Illinois, Inc. (NYSE: OI), we love glass and we’re
proud to make more of it than any other glass bottle or jar
producer in the world. We love that it’s beautiful, pure and
completely recyclable. With global headquarters in Perrysburg,
Ohio, we are the preferred partner for many of the
world's leading food and beverage brands. Working hand and
hand with our customers, we give our passion and expertise to make
their bottles iconic and help build their brands around the
world. With more than 26,500 people
at 77 plants in 23 countries, O-I has a global
impact, achieving revenues of $6.9 billion in
2018. For more information, visit o-i.com.
About Sustainalytics Sustainalytics is a
leading independent ESG and corporate governance research provider,
ratings and analytics firm that supports investors around the world
with the development and implementation of responsible investment
strategies. Sustainalytics’ ESG Risk Ratings measure a company’s
exposure to industry-specific material risks and how well the
company is managing those ESG risks.
For more information, contact:
Chris Manuel, VP, Investor Relations
chris.manuel@o-i.com
+1 (567) 336 2600
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