The Goodyear Tire & Rubber Company today announced that it has commenced a public offering of $900 million aggregate principal amount of 10-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 current cash and cash equivalents, to redeem in full its $900 million aggregate principal amount of 6.5% senior notes due 2021.
Citigroup Global Markets Inc.; Barclays Capital Inc.; BNP Paribas Securities Corp.; Credit Agricole Securities (USA) Inc.; Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; HSBC Securities (USA) Inc.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; and Wells Fargo Securities, LLC are acting as the joint book-running managers for the offering. Natixis Securities Americas LLC; Capital One Securities, Inc.; Commerz Markets LLC; Mitsubishi UFJ Securities (USA), Inc.; PNC Capital Markets LLC; UniCredit Capital Markets LLC; and U.S. Bancorp Investments, Inc. are acting as co-managers for the offering.
The offering will be made under a shelf registration statement that was filed with the U.S. Securities and Exchange Commission and became automatically effective on November 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:
Citigroup Global Markets Inc. The Goodyear Tire & Rubber Company
c/o Broadridge Financial Solutions Investor Relations Department
1155 Long Island Avenue 200 Innovation Way
Edgewood, NY 11717 Akron, OH 44316
telephone: 800-831-9146 telephone: 330-796-3751
email: prospectus@citi.com
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Goodyear is one of the world’s largest tire companies. It employs approximately 66,000 people and manufactures its products in 49 facilities in 22 countries around the world.
