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Article: Owens-Illinois To Raise Debt For BSN Glasspeck Purchase.
- Article from:
- Bank Loan Report
- Article date:
- February 23, 2004
- Author:
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Owens-Illinois (O-I) is planning on raising about 1.3 billion in term debt to, in part, back its mammoth, 1.16 billion ($1.5 billion) acquisition of France-based glass container manufacturer BSN Glasspack. Investors appeared positive about the expected credit last week, citing the company's firm hold on the glass container market.
Indeed, the BSN purchase will make the Toledo, Ohio-based glass and plastics packaging company the largest glass container maker in Europe, adding to its leading positions already established in North America, South America and Australia. BSN is a company controlled by investment funds advised by CVC Capital Partners Europe.
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