Goodyear announces pricing of €400 million European senior notes

Akron, OH – The Goodyear Tire & Rubber Company announced that its European subsidiary, Goodyear Europe B.V. (“GEBV”), has priced its private offering to eligible purchasers of €400 million aggregate principal amount of senior notes due 2028 (the “notes”). 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 notes will be offered to eligible purchasers at a price of 100% of their principal amount and will bear interest at a rate of 2.750% per annum.
Goodyear expects the offering to close on Sept. 28, 2021, subject to customary closing conditions.
GEBV intends to use the net proceeds from this offering to redeem in full its 3.75% Senior Notes due 2023 (the “2023 Notes”) following, and subject to, the completion of this offering at 100% of the principal amount thereof plus accrued and unpaid interest to the redemption date. The remaining net proceeds will be used for general corporate purposes, which may include repayment of outstanding borrowings under revolving credit facilities.
The notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), 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.

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