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O-I Glass Inc (NYSE: OI), the world's leading producer of sustainable glass packaging, maintains this dedicated news hub for investors and industry stakeholders. Access official press releases and curated updates covering strategic initiatives, environmental commitments, and operational developments across its global manufacturing network.
This resource provides essential insights into earnings announcements, production innovations, and partnership developments shaping the glass packaging sector. Users will find timely information on sustainability milestones, including energy-efficient manufacturing advancements and circular economy programs.
Regular updates include analysis of market trends affecting the food/beverage container industry, facility expansions, and technological improvements in glass production. Bookmark this page to stay informed about O-I Glass's position as a leader in combining industrial scale with eco-conscious manufacturing practices.
O-I Glass announced the pricing of a private offering by its subsidiary, Owens-Brockway Glass Container (OBGC), for $300 million in senior notes due 2032 at an interest rate of 7.375%. The net proceeds, approximately $297 million after commissions, will go towards redeeming OBGC's outstanding 6.375% senior notes due 2025. The offering will close on May 30, 2024, subject to customary conditions. The notes are unregistered under the U.S. Securities Act and offered to qualified institutional buyers and non-U.S. persons under specific regulations. This announcement is not an offer to sell or buy any securities.
O-I Glass announced that Owens-Brockway Glass Container (OBGC), an indirect subsidiary, plans to offer $300 million in senior notes due 2032, subject to market conditions. The notes will be guaranteed by Owens-Illinois Group and certain U.S. subsidiaries. Proceeds will be used to redeem OBGC’s outstanding 6.375% senior notes due 2025. The offering will be private and to qualified institutional buyers and non-U.S. persons under Rule 144A and Regulation S. The notes and guarantees are not registered under the U.S. Securities Act and are restricted from being sold in the U.S. without proper exemptions.
O-I Glass, Inc. announced that its subsidiary, OI European Group B.V. (OIEG), has priced a private offering of €500 million in 5.250% senior notes due 2029 at par, up from the previously announced €400 million. The net proceeds, expected to be €494 million, will be used to repurchase OIEG’s outstanding 2.875% senior notes due 2025 through a tender offer or other redemption methods. The offering is expected to close on May 28, 2024, pending customary conditions. The notes are offered only to qualified institutional buyers and certain non-U.S. persons.
O-I Glass has completed the full allocation of proceeds from its second round of Green Bond offerings, totaling $690 million and €600 million, to advance its climate-change strategy. The funds were directed to Eligible Green Projects, including renewable energy, energy efficiency, sustainable water management, and eco-friendly production technologies. The initiative aims to cut CO2 emissions, reduce energy consumption, and preserve natural resources. Notable projects include MAGMA technology, improvements at the Zipaquirá Colombian plant, and the GOAT furnace in France. Sustainalytics provided a favorable second-party opinion on the environmental impact and credibility of the projects.
O-I Glass' subsidiary, OI European Group B.V., announced a €400 million senior notes offering, due 2029. Proceeds from the offering, alongside cash on hand, will be used to repurchase outstanding €500 million 2.875% senior notes due 2025. Excess funds, if any, might be allocated to general corporate purposes. The notes and guarantees are not registered under U.S. securities laws and are being offered only to qualified institutional investors and non-U.S. persons outside the United States.
O-I Glass, under its subsidiary OI European Group (OIEG), announced a cash offer to purchase any and all of its 2.875% Senior Notes due 2025, amounting to €500 million. The offer commenced on May 16, 2024, and will expire on May 23, 2024, unless extended. The total consideration for the Notes is €992.50 per €1,000 principal amount, exclusive of accrued interest. The purchase is part of a strategy to issue new senior notes, with proceeds funding the buyback. The Notes will be purchased, retired, and canceled. BNP Paribas is managing the offer, and D.F. King is acting as the information and tender agent.
O-I Glass has announced significant leadership changes following its Annual Meeting of Share Owners. John Humphrey has been appointed as the new Independent Board Chair, succeeding John H. Walker. Additionally, Gordon Hardie's appointment as CEO is now effective, marking a seamless transition. The Annual Meeting also saw the election of 10 director nominees for one-year terms, including new members Eric J. Foss and Cheri Phyfer. Humphrey brings valuable experience from his previous roles at EnPro Industries and Roper Technologies. The company aims to leverage these strategic changes to enhance value creation in the packaging industry.
O-I Glass has completed the allocation of $690 million and €600 million in its second round of Green Bond offerings, aimed at advancing its climate-change strategy. The proceeds were spent on renewable energy, energy efficiency, sustainable water management, and environmentally friendly production technologies. Notable investments include the MAGMA technology and new energy-efficient furnaces in Colombia and France. These initiatives are expected to significantly reduce CO2 and NOX emissions. Sustainalytics positively reviewed the framework outlining these projects, affirming their environmental impact. The completion marks a major step in O-I's commitment to sustainability and innovation.
O-I Glass, Inc. reported financial results for Q1 2024, showing a decline in net earnings compared to the prior year due to softer consumer consumption and inventory destocking. Despite lower sales volume and net sales, the company remains optimistic about long-term glass packaging demand. The company is starting its first MAGMA greenfield plant in summer 2024, expecting a competitive advantage. Revised guidance reflects slower growth in sales volume and adjusted earnings per share due to market conditions.
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