debt
confidence high
sentiment neutral
materiality 0.60
O-I Glass subsidiary tenders €323.4M of €500M 2.875% Notes due 2025
O-I Glass, Inc. /DE/
- OIEG received tenders of €323.4M aggregate principal of 2.875% Senior Notes, ~64.7% of €500M outstanding.
- Total consideration per €1,000 principal is €992.50; settlement expected May 29, 2024.
- Remaining ~€176.6M in notes not tendered will stay outstanding.
- Funds sourced from cash; transaction reduces indebtedness and interest expense.