O-i announces commencement of consent solicitations and process to amend bank credit agreement related to corporate modernization

Owens-illinois, inc. announced that the board of directors of the company has authorized the commencement of consent solicitations to amend and waive certain provisions in the indentures governing the outstanding senior notes issued by certain of the companys subsidiaries and an amendment to the companys bank credit agreement. the purpose of the consent solicitations and bank credit agreement amendment is to facilitate the implementation of the corporate modernization (as defined below), which, if implemented, would be expected to be completed by the end of 2019. the company announced that its wholly owned subsidiaries owens-brockway glass container inc. (obgc) and oi european group b.v. (oieg and, together with obgc, the issuers), commenced consent solicitations with respectto proposed amendments and waivers to certain provisions in the indentures governing obgcs 5.000% senior notes due 2022, obgcs 5.875% senior notes due 2023, obgcs 5.375% senior notes due 2025, obgcs 6.375% senior notes due 2025, oiegs 4.875% senior notes due 2021, oiegs 4.000% senior notes due 2023 and oiegs 3.125% senior notes due 2024 (collectively, the notes), upon the terms and subject to the conditions set out in the consent solicitation statement dated december 4, 2019 (consent solicitation statement).
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