PERRYSBURG, Ohio, Feb. 25, 2022 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE

O-I Glass, Inc. (NYSE: OI) (the “Company”), announced today that Owens-Brockway Glass Container Inc., a Delaware corporation and an indirect wholly owned subsidiary of the Company (“OB Glass”), has announced the early tender results of its previously announced tender offer to purchase for cash (the “Tender Offer”) up to $250,000,000 in aggregate purchase price, excluding accrued and unpaid interest (the “Maximum Tender Amount”) of its outstanding 5.875% Senior Notes due 2023 (the “2023 Notes”), 6.625% Senior Notes due 2027 (the “2027 Notes”), 6.375% Senior Notes due 2025 (the “6.375% 2025 Notes”) and 5.375% Senior Notes due 2025 (the “5.375% 2025 Notes” and, together with the 6.375% 2025 Notes, the “2025 Notes”). The 2023 Notes, the 2027 Notes and the 2025 Notes are referred to herein collectively as the “Notes”. The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated February 10, 2022 (the “Offer to Purchase”). As described in the Offer to Purchase, repurchases of the 2023 Notes are subject to a maximum aggregate principal amount of $150,000,000 (the “2023 Note Cap”) and repurchases of the 2027 Notes are subject to a maximum aggregate principal amount of $100,000,000 (the “2027 Note Cap” and, together with the 2023 Note Cap, the “Series Note Caps”). With respect to the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time (as defined herein) and accepted for purchase, OB Glass has elected to have an early settlement date to make payment for such Notes on February 28, 2022. Except as described in this press release, all other terms of the Tender Offer as described in the Offer to Purchase remain unchanged.