The Goodyear Tire & Rubber Company today announced that it has commenced a public offering of $700 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 $700 million in aggregate principal amount of 7.0% senior notes due 2022.
J.P. Morgan Securities LLC; Barclays Capital Inc.; BNP Paribas Securities Corp.; Citigroup Global Markets Inc.; Credit Agricole Securities (USA) Inc.; Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; 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; BB Securities Limited; Capital One Securities, Inc.; MUFG Securities Americas Inc.; UniCredit Capital Markets LLC; Regions Securities LLC; and The Huntington Investment Company are acting as co-managers for the offering.
The offering will be made under an effective 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:
J.P. Morgan Securities LLC The Goodyear Tire & Rubber Company
c/o Broadridge Financial Solutions Investor Relations Department
1155 Long Island Avenue 200 Innovation Way
Edgewood, New York, 11717 Akron, OH 44316
telephone: 866-803-9204 telephone: 330-796-3751
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 48 facilities in 21 countries around the world.
