Retail

Goodyear completes notes exchange offers

Order Reprints

Goodyear Tire & Rubber Co. has completed its offers to exchange up to $1.05 billion in registered notes for previously issued unregistered notes with similar terms and conditions.

The company said that on December 22, 2005, it completed its offer to

exchange up to $450 million of 11% Senior Secured Notes due in 2011 and up to $200 million of Senior Secured Floating Rate Notes due in 2011, which have been registered under the Securities Act, for its outstanding unregistered 11% Senior Secured Notes due in 2011 and Senior Secured Floating Rate Notes due in 2011.

The exchange offer expired at 5 p.m. ET on Dec. 21. A total

of $449,998,000 of the 11% Notes and $200 million of the Floating Rate

Notes were validly tendered and accepted for exchange by Goodyear.

According to the terms of Goodyear's Registration Rights Agreement,

dated March 12, 2004, upon the closing of the exchange offer on December 22, 2005, additional interest of 2% per annum on the 11% Notes and Floating Rate Notes ceased to accrue and additional interest of 0.25% per annum began to accrue on those Notes.

On Jan. 12, 2006, Goodyear completed its offer to exchange up to

$400 million of 9% Senior Notes due in 2015, which have been registered under the Securities Act, for any and all of its outstanding unregistered 9% Senior Notes due in 2015.

This exchange offer expired at 5 p.m. ET, on January 9, 2006. A total of $400 million of 9% Senior Notes were validly tendered and accepted for exchange by Goodyear.

These exchange offers were performed under Registration Rights

Agreements signed as part of financing transactions completed in March

2004 and June 2005 and do not represent new financing transactions.

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