AKRON, Ohio, May 11, 2016 – The Goodyear Tire & Rubber Company announced that it has priced its offering of $900 million aggregate principal amount of 10-year senior notes. The notes will be senior unsecured obligations of the company. They will be offered to the public at a price of 100% of the principal amount and will bear interest at a rate of 5.0% per annum. Goodyear expects the offering to close on May 13, 2016, subject to 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 was 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.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
telephone: 800-831-9146
email: prospectus@citi.com
The Goodyear Tire & Rubber Company
Investor Relations Department
200 Innovation Way
Akron, OH 44316
telephone: 330-796-3751
