PERRYSBURG, Ohio, May  04, 2026  (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE  O-I Glass, Inc. (the &#34;Company&#34;) announced that Owens-Brockway Glass Container Inc. (&#34;OBGC&#34;), an indirect wholly owned subsidiary of the Company,

Owens-Brockway Glass Container Inc. Launches $500 Million Senior Notes Offering

O-I Glass announces senior notes offering to strengthen financial position

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  <section data-block="information">
    <h3>Information</h3>
    <p>PERRYSBURG, Ohio, May  04, 2026  (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE  O-I Glass, Inc. (the &amp;#34;Company&amp;#34;) announced that Owens-Brockway Glass Container Inc. (&amp;#34;OBGC&amp;#34;), an indirect wholly owned subsidiary of the Company,</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>O-I Glass&#039;s subsidiary aims to raise $500 million through senior notes due 2033, expected to enhance liquidity by redeeming 2027 senior notes. This strategic financial maneuver reflects confidence in market conditions and could stabilize OI&#039;s capital structure.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>OBGC plans to offer $500 million in senior notes due 2033.</li><li>Proceeds will be used to redeem existing 2027 senior notes.</li><li>Notes will be guaranteed by OI Group and subsidiaries.</li><li>Offering targets qualified institutional buyers under specific regulations.</li><li>The company faces risks from cost management and market conditions.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>O-I Glass, Inc. (OI)</strong>: Plans to strengthen financials via new debt offerings.</li><li><strong>Owens-Brockway Glass Container Inc. (Not specified)</strong>: Primary entity for the notes, impacting OI&#039;s overall liquidity.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as it involves a significant financial move aimed at debt management, which is critical for maintaining OI&#039;s operational capabilities and future growth.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Successful completion of the offering could boost OI&#039;s share price.</li><li>Redeeming high-interest debt will reduce interest expenses and improve margins.</li><li>Market conditions impacting demand could affect redemption timelines.</li><li>Investor sentiment may improve with stronger liquidity ratios.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Offering size: $500 million.</li><li>Notes due date: 2033.</li><li>Existing debt being redeemed: 6.625% senior notes due 2027.</li><li>Company&#039;s net sales in 2025: $6.4 billion.</li><li>Offering under Regulation S and Rule 144A compliance.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish on OI; expect increased liquidity and improved financial health in the near term.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>PERRYSBURG, Ohio, May  04, 2026  (GLOBE NEWSWIRE) -- <b>FOR IMMEDIATE RELEASE</b></p>  <p align="justify">O-I Glass, Inc. (the "Company") announced that Owens-Brockway Glass Container Inc. ("OBGC"), an indirect wholly owned subsidiary of the Company, intends to offer, subject to market and other conditions, $500 million aggregate principal amount of its senior notes due 2033 (the "Notes") in a private offering (the "Offering") to eligible purchasers under Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended (the "Securities Act"). OBGC's obligations under the Notes will be guaranteed on a joint and several basis by Owens-Illinois Group, Inc. ("OI Group") and certain U.S. domestic subsidiaries of OI Group that are guarantors under OI Group's credit agreement.</p>  <p align="justify">OBGC expects to use the net proceeds from the Offering, together with borrowings under the Company's revolving credit facility and cash on hand, to redeem all of OBGC's outstanding 6.625% Senior Notes due 2027 (the "2027 OBGC Notes").</p>  <p align="justify">The Notes and the guarantees have not been registered under the Securities Act, or applicable state securities laws, and will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. Unless so registered, the Notes and the guarantees may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. Prospective purchasers that are qualified institutional buyers are hereby notified that the seller of the Notes may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A.</p>  <p align="justify">The information contained in this news release is for informational purposes only and shall not constitute a notice of redemption for the 2027 OBGC Notes or an offer to sell or the solicitation of an offer to buy the 2027 OBGC Notes, the Notes or the guarantees, nor shall there be any sale of the Notes and the guarantees in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.</p>  <p align="justify"><u>About O-I Glass</u></p>  <p align="justify">At O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/OI">OI</a>), we love glass and we're proud to be one of the leading producers of glass bottles and jars around the globe. Glass is not only beautiful, it's also pure and completely recyclable, making it the most sustainable rigid packaging material. Headquartered in Perrysburg, Ohio (USA), O-I is the preferred partner for many of the world's leading food and beverage brands. We innovate in line with customers' needs to create iconic packaging that builds brands around the world. Led by our diverse team of approximately 19,000 people across 61 plants in 18 countries, O-I achieved net sales of $6.4 billion in 2025.</p>  <p align="justify"><u>Forward-Looking Statements</u></p>  <p align="justify">This press release contains "forward-looking" statements related to the Company within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and Section 27A of the Securities Act. Forward-looking statements reflect the Company's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," "target," "commit" and the negatives of these words and other similar expressions generally identify forward-looking statements.</p>  <p align="justify">It is possible that the Company's future financial performance may differ from expectations due to a variety of factors including, but not limited to the following: (1) the Company's ability to achieve expected benefits from cost management, efficiency improvements, and profitability initiatives, such as its Fit to Win initiative, including expected impacts from production curtailments, reduction in force and furnace closures, (2) the general credit, financial, political, economic, legal and competitive conditions in markets and countries where the Company has operations, including uncertainties related to economic and social conditions, trade policies and disputes, financial market conditions, disruptions in the supply chain, competitive pricing pressures, inflation or deflation, changes in tax rates, changes in laws or policies, legal proceedings involving the Company, war, civil disturbance or acts of terrorism, natural disasters, public health issues and weather, (3) cost and availability of raw materials, labor, energy and transportation (including impacts related to the current conflicts in the Middle East and between Russia and Ukraine and disruptions in supply of raw materials caused by transportation delays), (4) competitive pressures from other glass container producers and alternative forms of packaging or consolidation among competitors and customers, (5) changes in consumer preferences or customer inventory management practices, (6) the continuing consolidation of the Company's customer base, (7) risks related to the development, deployment and use of artificial intelligence technologies, (8) the Company's inability to improve glass melting technology in a cost-effective manner and introduce productivity, process and network optimization actions, (9) unanticipated supply chain and operational disruptions, including higher capital spending, (10) seasonality of customer demand, (11) the failure of the Company's joint venture partners to meet their obligations or commit additional capital to the joint venture, (12) labor shortages, labor cost increases or strikes, (13) the Company's ability to acquire or divest businesses, acquire and expand plants, integrate operations of acquired businesses and achieve expected benefits from acquisitions, divestitures or expansions, (14) the Company's ability to generate sufficient future cash flows to ensure the Company's goodwill is not impaired, (15) any increases in the underfunded status of the Company's pension plans, (16) any failure or disruption of the Company's information technology, or those of third parties on which the Company relies, or any cybersecurity or data privacy incidents affecting the Company or its third-party service providers, (17) risks related to the Company's indebtedness or changes in capital availability or cost, including interest rate fluctuations and the ability of the Company to generate cash to service indebtedness and refinance debt on favorable terms, (18) risks associated with operating in foreign countries, (19) foreign currency fluctuations relative to the U.S. dollar, (20) changes in tax laws or global trade policies, (21) the Company's ability to comply with various environmental legal requirements, (22) risks related to recycling and recycled content laws and regulations, (23) risks related to climate-change and air emissions, including related laws or regulations and increased ESG scrutiny and changing expectations from stakeholders and (24) the other risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and any subsequently filed Quarterly Reports on Form 10-Q or the Company's other filings with the Securities and Exchange Commission.</p>  <p align="justify">It is not possible to foresee or identify all such factors. Any forward-looking statements in this press release are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results, or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company's results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this press release. </p>  <p align="justify">SOURCE: O-I Glass, Inc.</p> <p id="gnw_attachments_section-header">
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        <a target="_blank" href="https://ml.globenewswire.com/Resource/Download/254cd1ea-6936-4317-8ca3-40e4f3cc4cf9">Owens-Brockway Glass Container Inc. Launches $500 Million Senior Notes Offering</a>
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<img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcxMjMwOSM3NTgwOTY0IzIwMDc4OTc="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/YzQyZDE4MTItM2ZlOC00YTg4LTkxMmMtYjg1YzM5ZWY4NmFhLTEwMTk0NzAtMjAyNi0wNS0wNC1lbg==/tiny/Owens-Illinois-General-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><pre>For more information, contact:
Chris Manuel
Vice President of Investor Relations
567-336-2600
Chris.Manuel@o-i.com</pre><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/8bac1d10-971f-403b-ae65-d8d408034ccd"><img src="https://ml.globenewswire.com/media/8bac1d10-971f-403b-ae65-d8d408034ccd/small/o-i-logoblack-png.png" border="0" width="143" height="101" alt="Primary Logo"></img></a></p>

O-I Glass's subsidiary aims to raise $500 million through senior notes due 2033, expected to enhance liquidity by redeeming 2027 senior notes. This strategic financial maneuver reflects confidence in market conditions and could stabilize OI's capital structure.

Owens-Brockway Glass Container Inc. Launches $500 Million Senior Notes Offering

AI Summary

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Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

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