Owens-Brockway prices $500M senior notes at 9.5% to refinance 2027 debt

Owens-Brockway Glass Container Inc., a subsidiary of O-I Glass, priced a $500 million private offering of 9.5% senior notes due 2033 at par. The net proceeds, about $495 million, will be used alongside other funds to redeem all outstanding 6.625% senior notes due 2027. The offering is expected to close on May 18, 2026, and is targeted at qualified institutional buyers. This refinancing move aims to manage debt maturity and potentially improve the company's financial flexibility.