Goodyear Announces Offering Of Senior Notes

AKRON, Ohio, March 31, 2021 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that it has commenced a public offering of $1 billion aggregate principal amount of 10- and 12-year senior notes. The notes will be senior unsecured obligations of the company. Issuance and sale of the notes is subject to market and other customary closing conditions.

Goodyear intends to use the net proceeds from this offering, together with its current cash and cash equivalents, to redeem in full its outstanding $1 billion 5.125% senior notes due 2023 following, and subject to, the completion of this offering, at a redemption price equal to par plus accrued and unpaid interest to the redemption date.

Source: Goodyear