Goodyear prices $900 million of senior notes

Wednesday 11th May 2016 | 0 Comments

 

The Goodyear Tire & Rubber Company has priced its offering of $900 million aggregate principal amount of 10-year senior notes. The notes will be senior unsecured obligations of the company. They will be offered to the public at a price of 100 per cent of the principal amount and will bear interest at a rate of 5.0 per cent per annum. Goodyear expects the offering to close on 13 May 2016, subject to 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 $900 million aggregate principal amount of 6.5 per cent senior notes due 2021.

Citigroup Global Markets Inc.; Barclays Capital Inc.; BNP Paribas Securities Corp.; Credit Agricole Securities (USA) Inc.; Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; 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; Capital One Securities, Inc.; Commerz Markets LLC; Mitsubishi UFJ Securities (USA), Inc.; PNC Capital Markets LLC; UniCredit Capital Markets LLC; and U.S. Bancorp Investments, Inc. are acting as co-managers for the offering.

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