O-I Glass, Inc., through its wholly owned subsidiary Owens-Illinois Group, Inc., entered into an Amended and Restated Credit Agreement on September 30, 2025 that provides for up to $2.7 billion of borrowings across term loans A, term loans B and a revolving credit facility, refinancing its March 22, 2022 credit agreement and related amendments. Term loans A and the revolving credit facility mature in September 2030 and term loans B in September 2032, but all can instead come due on a “Springing Maturity Date” if certain subsidiary senior notes remain outstanding 91 days before their stated maturity. The borrowings are secured by collateral of OI Group and certain subsidiaries and were used at closing to repay the prior facility and pay transaction fees and expenses.
The agreement includes restrictive covenants on liens, investments, contingent obligations, restricted payments, asset sales, affiliate transactions, sale-leasebacks, changes in fundamental business and amendments to subordinated debt. It also includes a Secured Leverage Ratio maintenance covenant that may limit additional financing or acquisitions if a specified maximum is exceeded. Pricing for term loans A and the revolver is tied to a Total Leverage Ratio, with margins ranging from 1.00% to 1.75% over Term SOFR or the Eurocurrency Rate and 0.00% to 0.75% over the Base Rate, while term loans B carry margins of 3.00% over Term SOFR and 2.00% over the Base Rate, plus a 0.20% to 0.35% annual commitment fee on unused revolver commitments.
Cooper Creek Partners Management LLC reported beneficial ownership of 10,525,527 shares of O-I Glass common stock, representing 6.8% of the class. The filing states Cooper Creek has sole voting power and sole dispositive power over all shares reported, meaning it controls how those shares are voted and has authority to dispose of them.
The statement is filed under the Schedule 13G framework and classifies the reporting person as an investment adviser (IA). Cooper Creek certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The filing is signed by John McCleary in his capacity as CFO of the reporting entity.
AllianceBernstein L.P. reports beneficial ownership of 7,939,841 shares of O-I Glass Inc. common stock, representing 5.1% of the class. The filing states these shares are held for client discretionary investment advisory accounts and were acquired solely for investment purposes, with sole voting power over 6,791,162 shares and sole dispositive power over all 7,939,841 shares; no shared voting or dispositive power is reported.
AllianceBernstein identifies itself as an investment adviser organized in Delaware, notes it is majority owned by Equitable Holdings but operates under independent management and reports beneficial ownership separately, and certifies the position was not taken to change or influence control of the issuer.