Owens-Brockway prices $500 million senior notes offering at 9.5%

Owens-Brockway Glass Container Inc., a subsidiary of O-I Glass Inc. (NYSE: OI), priced a private offering of $500 million in senior notes due 2033 at a 9.500% interest rate, the company announced.

The notes were priced at par, with net proceeds expected to reach approximately $495 million after deducting commissions but before offering expenses. The offering is scheduled to close on May 18, 2026, subject to customary closing conditions.

Owens-Illinois Group Inc. and certain U.S. domestic subsidiaries will guarantee the notes on a joint and several basis. The guarantors are also guarantors under OI Group's existing credit agreement.

Owens-Brockway plans to use the net proceeds, combined with borrowings under the company's revolving credit facility and cash on hand, to redeem all outstanding 6.625% Senior Notes due 2027.

The notes are being offered only to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S, as they have not been registered under the Securities Act of 1933.

O-I Glass operates 61 plants across 18 countries and reported net sales of $6.4 billion in 2025. The company employs approximately 19,000 people globally and produces glass bottles and jars for food and beverage brands.

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