Simpson Thacher Represents Initial Purchasers in $310 Million Senior Notes Offering by Owens-Illinois
01.05.18
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Simpson Thacher represented the initial purchasers, led by Goldman Sachs & Co. LLC, in connection with OI European Group B.V.’s private offering of $310 million aggregate principal amount of 4% Senior Notes due 2023. The notes are guaranteed by Owens-Illinois Group, Inc. (“OI Group”) and by certain of OI Group’s domestic subsidiaries. The net proceeds from the offering are being used to repay all amounts outstanding under OI Group’s Euro-denominated term loan A facility under its amended and restated secured credit agreement.
OI Group, through its subsidiaries, is the successor to a business established in 1903. OI Group is the largest manufacturer of glass containers in the world with 79 glass manufacturing plants in 23 countries.
The Simpson Thacher team included Marisa Stavenas, Arjun Koshal and Taylor Steele (Capital Markets); Marcy Geller, Jonathan Cantor and Deborah Plum (Tax); Adeeb Fadil and Louise Kruger (Environmental); Larry Moss, Joo Hyun Lee and Stephan Bradley (Executive Compensation and Employee Benefits); Marcela Robledo (Intellectual Property); and Jennie Getsin (Blue Sky).