05:19 PM EDT, 05/16/2024 (MT Newswires) -- O-I Glass ( OI ) late Thursday said its European subsidiary priced an upsized 500 million euros ($543.5 million) private placement of 5.250% senior notes due 2029 generating, up from the company's original plan to offer 400 million euros.

After paying its offering costs, O-I Glass ( OI ) is expecting around 494 million euros in net proceeds. The glass jars and bottles producer plans to use the new funds, together with cash on hand, to redeem outstanding 500 million euros of 2.875% senior notes maturing in 2025.

Any funds remaining will be used for general corporate purposes.

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