Goodyear closes US$1 billion offering of senior notes

2 minute read
06 April 2021

On April 6, 2021, The Goodyear Tire & Rubber Company (NASDAQ: GT) closed its previously announced public offering of US$1 billion aggregate principal amount of 10- and 12-year senior notes. The notes, comprised of US$550 million aggregate principal amount of senior notes due 2031 and US$450 million aggregate principal amount of senior notes due 2033, will be senior unsecured obligations of the company.

The 2031 notes were offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 5.250% per annum. The 2033 notes were offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 5.625% per annum. 
 
The offering was be made under an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission on May 13, 2020. 
 
Goodyear is one of the world's largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.
 
Lisa MacDonnell and Lisa Rossi of Gowling WLG acted as Canadian counsel to Goodyear with respect to this offering.


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