Goodyear Tire (GT) to Offer $700M in Senior Notes

The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that it has commenced a public offering of $700 million aggregate principal amount of 10-year senior notes. The notes will be senior unsecured obligations of the company. Issuance and sale of the notes is subject to market and other customary closing conditions.

Goodyear intends to use the net proceeds from this offering, together with current cash and cash equivalents, to redeem in full its $700 million in aggregate principal amount of 7.0% senior notes due 2022.

J.P. Morgan Securities LLC; Barclays Capital Inc.; BNP Paribas Securities Corp.; Citigroup Global Markets Inc.; Credit Agricole Securities (USA) Inc.; Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; HSBC Securities (USA) Inc.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and Wells Fargo Securities, LLC are acting as the joint book-running managers for the offering. Natixis Securities Americas LLC; BB Securities Limited; Capital One Securities, Inc.; MUFG Securities Americas Inc.; UniCredit Capital Markets LLC; Regions Securities LLC; and The Huntington Investment Company are acting as co-managers for the offering.

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