Following the news that it is raising money to fund the cash part of its takeover of Cooper Tire, The Goodyear Tire & Rubber Company announced that it has priced its private offering to eligible purchasers of $850 million aggregate principal amount of senior notes due 2029 and $600 million aggregate principal amount of senior notes due 2031.
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.