AKRON (June 28, 2004) — Goodyear said it intends to offer about $150 million aggregate principal amount of convertible notes to fund general corporate purposes.
The amount of the offering is subject to market and other customary conditions, the tire maker said. The company expects to grant the initial purchasers a 30-day option to acquire up to an additional $50 million aggregate principal amount of notes.
Net proceeds from the offerings will be used for general corporate purposes, which may include the temporary repayment of one of the company's revolving credit facilities, Goodyear said.