Simpson Thacher represented (1) the initial purchasers, led by BofA Securities, Inc., in connection with a 144A/Regulation S offering by Owens-Brockway Glass Container Inc. (“OBGC”) of $300 million aggregate principal amount of 7.375% Senior Notes due 2032 and (2) the initial purchasers, led by BNP Paribas, in connection with a 144A/Regulation S offering by OI European Group B.V. (“OIEG”) of €500 million aggregate principal amount of 5.250% Senior Notes due 2029 (the “OIEG Offering”).
Concurrently with the OIEG Offering, Simpson Thacher also represented BNP Paribas as dealer manager in connection with OIEG’s cash tender offer to purchase up to €500 million maximum aggregate principal amount of certain of its outstanding euro-denominated senior notes.
The net proceeds from the offerings have or will be used to fund the repayment, redemption or repurchase of near term debt maturities, including in the tender offer.
OI Group is one of the leading manufacturers of glass containers in the world with 68 glass manufacturing plants in 19 countries.
The Simpson Thacher team included Marisa Stavenas, John O’Connell, Traci Biedermann and Khalia Williams (Capital Markets); Jonathan Cantor and Lina Pan (Tax); Toby Chun and Deepa Sarkar (Environmental); Larry Moss, Pasco Struhs and Meredith Brenton (Executive Compensation and Employee Benefits); Corina Holland (Intellectual Property); and Andrew Pagliughi (Blue Sky).