Goodyear Announces Pricing of $1.45 Billion of Senior Notes in Connection With Planned Cooper Tire Acquisition

AKRON, Ohio , May 14, 2021 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that it has priced its private offering to eligible purchasers of $850 million aggregate principal amount of senior notes due 2029 (the « 2029 notes ») and $600 million aggregate principal amount of senior notes due 2031 (the « 2031 notes, » and together with the 2029 notes, the « notes »). The notes will be senior unsecured obligations of the company.

The 2029 notes will be offered to eligible purchasers at a price of 100% of their principal amount and will bear interest at a rate of 5.000% per annum. The 2031 notes will be offered to eligible purchasers at a price of 100% of their principal amount and will bear interest at a rate of 5.250% per annum. Goodyear expects the offering to close on May 18, 2021 , subject to customary closing conditions.

Source: Goodyear