AKRON (July 6, 2004) — Goodyear has closed its offering of $350 million aggregate principal amount of 4 percent convertible senior notes.
The notes, due June 15, 2034, are convertible into shares of the company's common stock initially at a conversion rate of 83.07 shares of stock per $1,000 principal amount of notes. That is equal to a conversion price of $12.04 per share.
Goodyear intends to use proceeds from the offering for general corporate purposes.