-+ 0.00%
-+ 0.00%
-+ 0.00%

O-I Glass Subsidiary, Owens-Illinois Group, On Sept. 30 Entered Amended and Restated Credit Agreement and Syndicated Facility Agreement Refinancing OI Group's Credit Agreement And Syndicated Facility Agreement Dated Mar. 22, 2022

Benzinga·10/01/2025 10:55:55
Listen to the news

On September 30, 2025, Owens-Illinois Group, Inc. ("OI Group"), a direct, wholly owned subsidiary of O-I Glass, Inc. (the "Company") entered into an Amended and Restated Credit Agreement and Syndicated Facility Agreement with Wells Fargo Bank, National Association, as Administrative Agent, Owens-Illinois General Inc., as Borrowers' Agent, and the other Agents, Arrangers and Lenders named therein (the "Credit Agreement"). The Credit Agreement refinances in full OI Group's Credit Agreement and Syndicated Facility Agreement, dated March 22, 2022 (as amended by Amendment No. 1 to Credit Agreement and Syndicated Facility Agreement dated August 30, 2022, the "Prior Credit Agreement"). The Credit Agreement provides for up to $2.7 billion of borrowings pursuant to term loans A, term loans B and a revolving credit facility. The term loans A mature, and the revolving credit facility terminates, in September 2030, and the term loans B mature in September 2032; provided, however, that if any of the senior notes issued by certain subsidiaries of the Company are outstanding on the date that is 91 days prior to the maturity date for such senior notes (any such date, a "Springing Maturity Date"), then the term loans A, the revolving credit facility and the term loans B will mature and terminate, as applicable, on such Springing Maturity Date. Borrowings under the Credit Agreement are secured by certain collateral of OI Group and certain of its subsidiaries. The proceeds from the borrowings under the Credit Agreement at closing were used to refinance indebtedness under the Prior Credit Agreement and to pay transaction fees and expenses.