Owens-Brockway Glass Container Inc. Commences Partial Tender Offer for 8-7/8% Senior Secured Notes due 2009

The tender offer will expire at 5:00 p.m., New York City time, on Tuesday, July 11, 2006, unless extended or earlier terminated (the "Expiration Date").Holders who validly tender their Notes prior to 5:00 p.m., New York City time, on Friday, June 23, 2006, unless extended or earlier terminated, will be entitled to receive $1,040, payable in cash, for each $1,000 principal amount of Notes accepted for payment, which amount includes an early tender payment of $30 per $1,000 of Notes accepted for payment. Holders who validly tender their Notes after such time but prior to the Expiration Date will receive $1,010 per $1,000 principal amount of Notes accepted for purchase. Accrued and unpaid interest up to, but not including, the settlement date will be paid in cash on all validly tendered and accepted Notes. The settlement date will be promptly after the Expiration Date and is expected to be on or about July 12, 2006.

Read the entire news on the source link below.