Owens-Brockway Glass Container Closes on Sale of Additional $175 Million Principal of 8-3/4% Senior Secured Notes

Owens-Brockway Glass Container Inc., an indirect wholly-owned subsidiary of Owens-Illinois, Inc., (NYSE: OI) announced today that is has closed on the sale of $175 million principal amount of its 8-3/4% Senior Secured Notes due November 15, 2012.

This is in addition to the $450 million sold on November 13. The proceeds from these notes were used to permanently reduce a portion of the revolving loan facility under the secured credit agreement. The notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement.

600450 Owens-Brockway Glass Container Closes on Sale of Additional $175 Million Principal of 8-3/4% Senior Secured Notes glassonweb.com
Date: 21 December 2002
Source: Owens-Illinois

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