OI European Group BV, an indirect wholly owned subsidiary of Owens-Illinois, Inc., announced 2 March 2007 that it intends to offer EUR 300M aggregate principal amount of senior notes due 2017 in a private offering. OI European Group BV intends to use the net proceeds from the offering to repay borrowings under its existing secured credit agreement. In May 2007, a subsidiary borrower of Owens-Illinois, Inc., intends to borrow under the secured credit agreement in order to repay all outstanding USD 300M of Owens-Illinois, Inc.'s, 8.10% Senior Notes due 15 May 2007. The notes are not registered under the Securities Act of 1933 and are being offered and sold in the United States only to qualified institutional buyers and to certain non-US persons in transactions outside the United States.
