OI European Group B.V., an indirect wholly owned subsidiary of Glass packaging maker Owens-Illinois Group Inc. (OI), said it plans to offer euro 500 million aggregate principal amount of senior notes due 2020 in a private offering.
Meanwhile, OI European Group anticipates to use the net proceeds received from this offering to repay borrowings under Owens-Illinois Group Inc.'s revolving credit facility and for general corporate purposes, including funding Owens-Illinois Group's strategic priorities.
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