The Firm recently represented the initial purchasers in connection with Owens-Brockway Glass Container Inc.’s private offering pursuant to Rule 144A of $600 million aggregate principal amount of 3.00% Exchangeable Senior Notes due 2015. The initial purchasers have a 30-day option to purchase up to an additional $90 million aggregate principal amount of notes. The notes are exchangeable based on shares of common stock of Owens-Illinois, Inc., the indirect parent corporation of the issuer. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and Goldman, Sachs & Co. acted as representatives of the initial purchasers in the notes offering.
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 78 glass manufacturing plants in 22 countries.
The Simpson Thacher team included Marisa Stavenas, Roxane Reardon, Frank Kwok and Shih-Chi Pan (Capital Markets), Marcy Geller and Danny Salinas (Tax), Adeeb Fadil (Environmental), Susan Kaufman and David Schneider (Executive Compensation and Employee Benefits), Marcela Robledo (Intellectual Property), Julie Levy (Labor) and Andrew Pagliughi (Blue Sky). Paralegal Matthew Dresher provided valuable assistance.