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BRIEF-Owens-Illinois says adjusted free cash flow for FY 2016 would be about $425 mln
December 20, 2016 / 9:51 PM / a year ago

BRIEF-Owens-Illinois says adjusted free cash flow for FY 2016 would be about $425 mln

Dec 20 (Reuters) - Owens-illinois Inc :

* Owens-Illinois Inc says settlement will reduce plan’s pension obligations by 10 to 15 percent

* Owens-Illinois Inc says during 2016, asbestos payments of approximately $125 million will reduce this liability to less than $700 million

* Owens-Illinois Inc - adjusted free cash flow for full year 2016 would be approximately $425 million

* Owens-Illinois -improved debt profile through recent issuance of 500 million euro, eight-year, fixed-rate bond with coupon of 3.125 percent

* Owens-Illinois Inc says continues to de-risk its pension plans

* Owens-Illinois Inc says recently settled approximately $200 million in pension obligations of owens-illinois hourly retirement plan

* Owens-Illinois Inc - company reported a total asbestos-related liability of $817 million on its balance sheet at year end 2015

* Owens-Illinois Inc - in 2017, expected asbestos payments of approximately $115 million will further decrease liability Source text for Eikon: Further company coverage:

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