Goodyear announces offering of €300 million European senior notes

Akron, OH – The Goodyear Tire & Rubber Company announced that its European subsidiary, Goodyear Europe B.V. (GEBV), has commenced a private offering to eligible purchasers of €300 million aggregate principal amount of senior notes due 2028.
The notes will be senior unsecured obligations of GEBV and will be guaranteed on a senior unsecured basis by Goodyear and certain of its wholly owned U.S. and Canadian subsidiaries that also guarantee Goodyear’s obligations under certain of its senior secured credit facilities and senior unsecured notes. The issuance and sale of the notes is subject to market and other customary closing conditions.
GEBV intends to use the net proceeds from this offering to redeem in full its 3.75 percent senior notes due 2023 following, and subject to, the completion of this offering at 100 percent of the principal amount thereof plus accrued and unpaid interest to the redemption date. Any remaining net proceeds will be used for GEBV’s general corporate purposes.
The notes have not been registered under the Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. GEBV plans to offer and issue the notes only to qualified institutional buyers pursuant to Rule 144A and to persons outside the United States pursuant to Regulation S, in each case under the Securities Act.