Owens-Illinois buys back $46 million exchangeables in 2013 first half

By Tali David

Minneapolis, July 25 - Owens-Illinois Group, Inc. said that during the six months ended June 30, a subsidiary of the company repurchased $46 million of its 3% exchangeable notes due 2015, according to a 10-Q filed with the Securities and Exchange Commission.

The amount by which the cash paid exceeded the fair value of the notes repurchased was recorded as a reduction to share owners' equity.

The company recorded $3 million of additional interest charges for the loss on debt extinguishment and the related write-off of unamortized finance fees.

Owens-Illinois Group, Inc. is a Perrysburg, Ohio-based glass container maker.

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