FOR IMMEDIATE RELEASE
OI European Group
B.V. Issues Notice of Partial Redemption for 6.75% Senior Notes due
2020
PERRYSBURG, Ohio / SCHIEDAM, the
Netherlands (July 3, 2019) - Owens-Illinois Group, Inc. (the
"Company") announced that its wholly-owned subsidiary, OI European
Group B.V. ("O-I Europe"), has delivered a notice of partial
redemption to holders of O-I Europe's outstanding 6.75% senior
notes due 2020 (the "Notes") calling for the redemption of €250
million aggregate principal amount of the outstanding Notes.
Following the redemption, €250 million aggregate principal amount
of the Notes will remain outstanding.
The redemption date will be July 12, 2019. In
accordance with the terms of the Notes and the related indenture
under which the Notes were issued, the Notes will be redeemed at a
price equal to the sum of the principal amount of the Notes to be
redeemed, the applicable premium calculated in accordance with the
terms of the Notes and the related indenture, and the accrued and
unpaid interest on the Notes up to, but not including, the
redemption date. The Company intends to fund the redemption with
cash on hand and revolver borrowings.
Questions relating to the notice
of partial redemption and related materials should be directed to
Deutsche Bank AG, London Branch, in its capacity as paying agent
for the redemption of the Notes (the "Paying Agent"), at
tss-gds.row@db.com. The address of the Paying Agent is Winchester
House, 1 Great Winchester Street, London EC2N 2DB, UK.
This news release shall not constitute an offer to
sell, or the solicitation of an offer to buy, any security and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
This announcement
contains inside information by the Company and O-I Europe under
Regulation (EU) 596/2014 (16 April 2014).
###
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.
###
Forward-Looking Statements
This press release contains "forward-looking"
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act") and Section
27A of the Securities Act of 1933. Forward-looking statements
reflect the Company's current expectations and projections about
future events at the time, and thus involve uncertainty and risk.
The words "believe," "expect," "anticipate," "will," "could,"
"would," "should," "may," "plan," "estimate," "intend," "predict,"
"potential," "continue," and the negatives of these words and other
similar expressions generally identify forward-looking
statements.
It is possible the Company's future financial
performance may differ from expectations due to a variety of
factors including, but not limited to the following: (1) foreign
currency fluctuations relative to the U.S. dollar, (2) changes in
capital availability or cost, including interest rate fluctuations
and the ability of the Company to refinance debt at favorable
terms, (3) the general political, economic and competitive
conditions in markets and countries where the Company has
operations, including uncertainties related to economic and social
conditions, disruptions in the supply chain, competitive pricing
pressures, inflation or deflation, and changes in tax rates and
laws, (4) the Company's ability to generate sufficient future cash
flows to ensure the Company's goodwill is not impaired, (5)
consumer preferences for alternative forms of packaging, (6) cost
and availability of raw materials, labor, energy and
transportation, (7) the Company's ability to manage its cost
structure, including its success in implementing restructuring
plans and achieving cost savings, (8) consolidation among
competitors and customers, (9) the Company's ability to acquire
businesses and expand plants, integrate operations of acquired
businesses and achieve expected synergies, (10) unanticipated
expenditures with respect to environmental, safety and health laws,
(11) unanticipated operational disruptions, including higher
capital spending, (12) the Company's ability to further develop its
sales, marketing and product development capabilities, (13) the
failure of the Company's joint venture partners to meet their
obligations or commit additional capital to the joint venture, (14)
the Company's ability to prevent and detect cybersecurity threats
against its information technology systems and to comply with data
privacy regulations, (15) the Company's ability to accurately
estimate its total asbestos-related liability or to control the
timing and occurrence of events related to outstanding
asbestos-related claims, including but not limited to settlements
of those claims, (16) changes in U.S. trade policies, (17) the
Company's ability to achieve its strategic plan, and the other risk
factors discussed in the Annual Report on Form 10-K for the year
ended December 31, 2018 and any subsequently filed Quarterly Report
on Form 10-Q or the Company's other filings with the Securities and
Exchange Commission.
SOURCE: Owens-Illinois Group, Inc.
For further information, please
contact:
Chris Manuel
Vice President, Investor Relations
567-336-2600
chris.manuel@o-i.com
2020 Notes Redemption Press
Release
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Owens-Illinois, Inc. via Globenewswire
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