Owens-Illinois, Inc.: OI European Group B.V. Launches Private Offering of $310 Million of Senior Notes
December 05 2017 - 6:53AM
YASTEST
FOR IMMEDIATE RELEASE
OI European Group
B.V. Launches Private Offering of $310 Million of Senior
Notes
PERRYSBURG, Ohio / SCHIEDAM, the
Netherlands (December 5, 2017) - Owens-Illinois
Group, Inc. (the "Company") announced that OI European Group
B.V. ("OI Europe"), an indirect wholly owned subsidiary of the
Company, intends to offer, subject to market and other conditions,
$310 million aggregate principal amount of its senior notes due
2023 in a private offering to eligible purchasers under
Rule 144A and Regulation S of the U.S. Securities Act of 1933,
as amended (the "Securities Act"). OI Europe's obligations under
the senior notes will be guaranteed on a joint and several basis by
the Company and certain U.S. domestic subsidiaries of the Company
that are guarantors under the Company's credit agreement.
The Company expects to use the net proceeds from
the private offering, together with cash from the Company's balance
sheet, to repay all amounts outstanding under the Company's
Euro-denominated term loan A facility under the credit
agreement.
The senior notes and the guarantees have not been
registered under the Securities Act, or applicable state securities
laws, and will be offered only to 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 senior 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
senior 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 an offer
to sell or the solicitation of an offer to buy the senior notes or
the guarantees, nor shall there be any sale of the senior 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.
This announcement contains inside
information by the Company and OI Europe under Regulation (EU)
596/2014 (16 April 2014).
###
Forward-Looking Statements
The information contained in this news release
contains "forward-looking statements," as defined by federal
securities laws. 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) the Company's ability to realize expected growth
opportunities, cost savings and synergies from its acquisition of
the food and beverage glass containers business of Vitro, S.A.B. de
C.V. and its subsidiaries as conducted in the United States, Mexico
and Bolivia, (2) foreign currency fluctuations relative to the U.S.
dollar, (3) changes in capital availability or cost, including
interest rate fluctuations and the ability of the Company to
refinance debt at favorable terms, (4) 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 capital markets,
disruptions in the supply chain, competitive pricing pressures,
inflation or deflation, and changes in tax rates and laws, (5) the
Company's ability to generate sufficient future cash flows to
ensure the Company's goodwill is not impaired, (6) consumer
preferences for alternative forms of packaging, (7) cost and
availability of raw materials, labor, energy and transportation,
(8) the Company's ability to manage its cost structure, including
its success in implementing restructuring plans and achieving cost
savings, (9) consolidation among competitors and customers, (10)
the Company's ability to acquire businesses and expand plants,
integrate operations of acquired businesses and achieve expected
synergies, (11) unanticipated expenditures with respect to
environmental, safety and health laws, (12) the Company's ability
to further develop its sales, marketing and product development
capabilities, (13) the Company's ability to prevent and detect
cybersecurity threats against its information technology systems,
(14) changes in U.S. trade policies, (15) the Company's ability to
achieve its strategic plan, and (16) the other risk factors
discussed in the Company's Annual Report on Form 10-K for the
year ended December 31, 2016 and any subsequently filed
Quarterly Reports on Form 10-Q. It is not possible to foresee
or identify all such factors. Any forward-looking statements in
this news release are based on certain assumptions and analyses
made by the Company in light of its experience and perception of
historical trends, current conditions, expected future
developments, and other factors it believes are appropriate in the
circumstances. Forward-looking statements are not a guarantee of
future performance and actual results or developments may differ
materially from expectations. The Company's forward-looking
statements speak only as of the date made. While the Company
continually reviews trends and uncertainties affecting the
Company's results of operations and financial condition, the
Company does not assume any obligation to update or supplement any
particular forward-looking statements contained in this news
release.
SOURCE: Owens-Illinois Group, Inc.
For further information, please contact:
Sasha Sekpeh
O-I Investor Relations
(567) 336-5128
alexandra.sekpeh@o-i.com
O-I Logo
OI European Group B.V. Launches Private Offering
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions 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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