O-I Glass prices $500M senior notes at 9.5% to refinance 2027 debt, raising borrowing costs

Filed May 4, 2026 · Period ending May 4, 2026 · ~1 min read

Key Changes

• high

  Subsidiary priced $500M of 9.500% senior notes due 2033 at par, closing expected May 18. Proceeds will refinance $612M of existing 6.625% notes due 2027, extending maturity but increasing interest rate by 287 basis points.

  Item 8.01 view on EDGAR →
• high

  Company will use new notes plus revolver borrowings and cash to fully redeem the 2027 notes. The refinancing pushes out near-term maturity risk from 2027 to 2033 but significantly increases annual interest expense.

  Item 8.01 view on EDGAR →
• medium

  New notes include restrictive covenants limiting ability to incur liens, engage in sale-leaseback transactions, and pursue major mergers or asset sales. Standard bondholder protections that may constrain operational flexibility.

  Item 8.01 view on EDGAR →