The Firm recently represented the initial purchasers in connection with Owens-Brockway Glass Container Inc.’s private placement of $600 million aggregate principal amount of 7-3/8% Senior Notes due 2016. A portion of the net proceeds will be used to fund its indirect parent’s, Owens-Illinois, Inc., tender offer for its 7½% Senior Debentures due 2010, for which the Firm is representing the dealer mangers. J.P. Morgan Securities Inc., Banc of America Securities LLC and Deutsche Bank Securities Inc. acted as joint book-running managers for the notes offering and are acting as joint lead dealer managers for the tender offer.
Owens-Illinois, Inc., through its subsidiaries, is the successor to a business established in 1903 and is the largest manufacturer of glass containers in the world, with leading positions in Europe, North America, South America and Asia Pacific. Owens-Illinois, Inc. operates 80 glass manufacturing plants in 22 countries.
The Simpson Thacher team included John Tehan, Marisa Stavenas, Ellen Smiley, Cristina Quintero (Capital Markets); Jonathan Cantor and Aaron Cohen (Tax); Adeeb Fadil (Environmental); Jeanne Annarumma, Susan Kaufman and Paula Han (Executive Compensation and Employee Benefits); Marcela Robledo (Intellectual Property); Julie Levy (Labor); and Andrew Pagliughi (Blue Sky). Paralegal Michelle Diamond also provided valuable assistance.