Goodyear Announces Offering Of Senior Notes

Core Viewpoint - Goodyear Tire & Rubber Company has initiated a public offering of $500 million in 5-year senior notes to refinance existing debt, specifically to redeem its 5.000% Senior Notes due 2026 [1][2]. Group 1: Offering Details - The company is offering $500 million in aggregate principal amount of senior unsecured notes [1]. - The net proceeds from this offering will be used to redeem $400 million of the outstanding $900 million 2026 Notes [2]. - The redemption date for the $400 million of 2026 Notes is set for June 30, 2025 [2]. Group 2: Management and Underwriters - A consortium of financial institutions, including Deutsche Bank Securities Inc. and BofA Securities, is managing the offering [3]. - The offering will be conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission [4]. Group 3: Company Overview - Goodyear is one of the largest tire manufacturers globally, employing approximately 68,000 people and operating 53 facilities across 20 countries [5]. - The company has two Innovation Centers located in Akron, Ohio, and Colmar-Berg, Luxembourg, focusing on developing advanced products and services [5].