AKRON (March 2, 2017) — Goodyear has priced its offering of $700 million aggregate principal amount of 10-year senior notes, which are senior unsecured obligations of the company.
The Akron-based tire manufacturer said it 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 percent senior notes due in 2022.
Acting as the joint book-running managers for the offering are J.P. Morgan Securities L.L.C.; 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 Inc.; and Wells Fargo Securities L.L.C.
Acting as co-managers for the offering are Natixis Securities Americas L.L.C.; BB Securities Limited; Capital One Securities Inc.; MUFG Securities Americas Inc.; UniCredit Capital Markets L.L.C.; Regions Securities L.LC.; and the Huntington Investment Co.
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 Nov. 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 L.LC; c/o Broadridge Financial Solutions; 155 Long Island Ave; Edgewood, N.Y. 11717; 866-803-9204; or Goodyear, Investor Relations Department, 200 Innovation Way; Akron, OH 44316; 330-796-3751.
Goodyear employs approximately 66,000 and manufactures its products in 48 facilities in 21 countries.