OI Europe plans to raise €300 million to finance new and existing ‘Eligible Green Projects’, while also redeeming the remaining €250 million aggregate principal amount of its outstanding 6.75% senior notes due in 2020. Subject to market and other conditions, the €300 million of senior notes will involve a private offering to eligible purchasers.

‘Eligible Green Projects’ include projects and investments aimed at replacing fossil fuel energy with renewable energy (wind and solar); investments in energy efficient solutions (such as LED lighting); the use of new technologies aimed at reducing water consumption in the manufacturing process; projects, investments and research and development aimed at improving the production technologies and processes in manufacturing facilities and facilitating the use of alternative resources; projects aimed at using circular economy programmes, including waste collection and/or glass recycling processing facilities; and projects aimed at reducing the use of raw materials and using sustainable raw material to produce environmentally-friendly products.

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