Goodyear Prices Senior Notes Offering

Goodyear Tire & Rubber Co. has priced its offering of $1.05 billion aggregate principal amount of senior notes, due 2032.

The notes will be senior unsecured obligations of the company, according to Goodyear officials, and will be offered to the public at a price of 100% of their principal amount, bearing interest at a rate of 8.875% per annum.

Goodyear expects the offering to close on June 4, 2026, "subject to customary closing conditions" and "intends to use the net proceeds from this offering to repay, redeem or repurchase its outstanding 4.875% Senior Notes due 2027 (the "4.875% Notes") and its outstanding 7.625% Senior Notes due 2027 (the "7.625% Notes," and, together with the 4.875% Notes, the "2027 Notes") at or prior to their respective maturity on March 15, 2027. Any remaining net proceeds will be used for general corporate purposes.

"As of March 31, 2026, there was $700 million in aggregate principal amount of the 4.875% Notes outstanding and $117 million in aggregate principal amount of 7.625% Notes outstanding. Pending the repayment, redemption or repurchase of the 2027 Notes, Goodyear intends to temporarily apply a portion of the net proceeds from this offering to repay outstanding balances under its first lien revolving credit facility, its European revolving credit facility, its Mexican credit facility and certain other smaller facilities."