- O-I completes full allocation of $690 Million due 2031, issued by Owens-Brockway Glass Container, Inc.
- O-I completes full allocation of €600 Million due in 2028, issued by O-I European Group B.V.
- Allocations mark another significant step forward in company climate-change strategy
PERRYSBURG, OH / ACCESSWIRE / May 16, 2024 / O-I Glass (NYSE:), Inc. (“O-I Glass”, “O-I” or the “Company”) announced that the Company has completed full allocation of the proceeds from its second round of Green Bond offerings to advance the company’s climate-change strategy. In May of 2023, Owens-Brockway Glass Container Inc., and OI European Group B.V. launched private Green Bond offerings of $690 million and €600 million, respectively.
The Green Bond proceeds were spent on Eligible Green Projects as defined in O-I’s Green Financing Framework (the “Framework”), developed based on the Green Bond Principles and the Green Loan Principles.
The Company engaged Sustainalytics to provide a second-party opinion, which noted the Framework’s outlined Eligible Green Projects are “expected to deliver positive environmental impact” and are “credible from a transition perspective.”
The Green Bond proceed expenditures enriched O-I’s climate-change strategy through the following Eligible Green Projects: renewable energy reliance, energy efficiency, sustainable practices in water and wastewater management, environmentally friendly production technologies and processes, circular economy, and environmentally friendly adapted products.
Additional details of the Company’s allocation are provided in the above tables.
“The road to sustainability, for O-I, is paved by innovation” said Meena Dafesh, Vice President, Treasurer for O-I. “We are continuously working across our entire ecosystem of partners to advance the sustainability of our products and processes. Through the use of Green Bond proceeds, and other visionary approaches, O-I is making tangible progress toward our ambitious sustainability goals and helping our customers to advance in their aspirations as well.”
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The commitment to cullet (recycled glass) investment underscores the company’s strides toward a sustainable future by immediately reducing carbon emissions, lowering energy consumption, and preserving natural resources. With the amount of cullet designated for this initiative, the company has achieved significant conservation efforts…
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