The Goodyear Tire & Rubber Co. announced it has priced its offering of $1 billion aggregate principal amount of eight-year senior notes. The notes will be senior unsecured obligations of the company. The notes will be offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 5.125% per annum. Goodyear expects the offering to close on Nov. 5, 2015, 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 $1 billion in principal amount of 8.25% senior notes due 2020.
Goldman, Sachs & Co., Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are acting as the joint book-running managers for the offering. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Natixis Securities Americas LLC, UniCredit Capital Markets LLC and Wells Fargo Securities LLC are acting as co-managers for the offering.
The offering was made under a shelf registration statement that was filed with the U.S. Securities and Exchange Commission and became automatically effective on Nov. 2, 2015. The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:
Goldman, Sachs & Co. The Goodyear Tire & Rubber Co.
Prospectus Department Investor Relations Department
200 West St. 200 Innovation Way
New York, NY 10282 Akron, OH 44316
(866) 471-2526 (330) 796-3751
email: [email protected]
