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Goodyear prices additional $200 million of 9.5 percent senior notes

  5/22/2020 - Akron, OH - The Goodyear Tire & Rubber Company announced that it has priced its offering of an additional $200 million aggregate principal amount of its 9.500 percent senior notes due May 31, 2025. The notes will be senior unsecured obligations of the company. The notes will be offered to the public at a price of 101.75 percent of their principal amount, plus accrued and unpaid interest from May 18. Goodyear expects the offering to close on May 22, subject to customary closing conditions. The offering, together with the company’s previously completed issuance of $600 million of 9.500 percent senior notes due 2025, increases the total aggregate principal amount of these 9.500 percent senior notes due 2025 to $800 million. Goodyear intends to use the net proceeds from this offering, together with the net proceeds of the previously completed issuance of $600 million of 9.500 percent senior notes due 2025, for general corporate purposes, which may include repaying or redeeming the company’s outstanding 8.75 percent notes due 2020 (2020 notes) at or prior to their maturity of August 15. Currently, there is approximately $282 million in aggregate principal amount of the 2020 notes outstanding. Pending the use of proceeds as described above, a portion of the net proceeds from this offering may be temporarily applied to repay outstanding balances under the company’s revolving credit facilities. Goldman Sachs & Co. LLC; Barclays Capital Inc.; BNP Paribas Securities Corp.; BofA Securities, Inc.; Citigroup Global Markets Inc.; Credit Agricole Securities (USA) Inc.; Deutsche Bank Securities Inc.; J.P. Morgan Securities LLC; and Wells Fargo Securities, LLC are acting as the joint book-running managers for the offering. BBVA Securities Inc.; Banco Bradesco BBI S.A.; MUFG Securities Americas Inc.; Natixis Securities Americas LLC; PNC Capital Markets LLC; SMBC Nikko Securities America, Inc.; and UniCredit Capital Markets LLC are acting as co-managers for the offering.

Friday, January 22, 2021

Guill Tool & Engineering rolls out new website - click to expand

NovationSi and Zeon develop novel electrically conductive silicone compounds - click to expand

Hankook Tire selected as original equipment for Audi RS Q8 - click to expand

North America tire market forecast at $90 billion by 2025 - click to expand

Book of the day: Thermoplastic Elastomers - click to expand

Dunlop Motorcycle Tires announces price increase for U.S. and Canada - click to expand

Thursday, January 21, 2021

Bostik invests in joint venture with Cartell Chemical for development of engineering adhesives - click to expand

Bridgestone and NRGene announce sequence and assembly of guayule genome - click to expand

Freudenberg Medical expands U.S. molding operations - click to expand

Global silicone surfactants market forecast at $3.3 billion by 2026 - click to expand

Safic-Alcan further extends partnership with Arkema molecular sieves - click to expand

Cabot Corporation receives platinum rating for its sustainability efforts from EcoVadis - click to expand

Wednesday, January 20, 2021

GRI initiates phase 2 for the largest specialty tire plant in Sri Lanka - click to expand

Call for abstracts issued for 2021 International Elastomer Conference - click to expand

ExxonMobil introduces new Santoprene integrated thermoplastic vulcanizate - click to expand

Henkel expands collaboration with InterPRO for 3D application development - click to expand

Greenergy invests in advanced biofuels project - click to expand

German and International Rubber Conference 2021 postponed due to COVID-19 - click to expand

Tuesday, January 19, 2021

Wallace Instruments partners with ACE Products & Consulting LLC - click to expand

Lux Research names top five technologies disrupting the chemicals and materials industry - click to expand

Endurica named winner of the 2020 Tibbetts Award from the U.S. Small Business Administration - click to expand

Polyurethanes Technical Conference set to resume in Denver, CO, October 4 - click to expand

BKT renews its sponsorship for all competitions organized by Curling Canada - click to expand

Greenergy opts for Haldor Topsoe’s HydroFlex technology - click to expand

Monday, January 18, 2021

General Silicones announces solution for using hot-melt adhesives with silicone rubber - click to expand

Biesterfeld receives distribution rights for Denka acrylate rubbers - click to expand

Rubber Division, ACS, promotes rubber groups and technical organizations - click to expand

Apollo inaugurates specialized service center for tires in India - click to expand

TechnoBiz announces research webinar on Future Applications of Natural Rubber - click to expand

Harwick Standard announces retirement of Daniel Davis - click to expand

Market Reports

Rubber-internal mixer market will register a 0.3% CAGR through 2025 - click to expand

North America tire market forecast at $90 billion by 2025 - click to expand

Global silicone surfactants market forecast at $3.3 billion by 2026 - click to expand

Global Off the Road (OTR) Tire Market is expected to be around 4 percent through 2025 - click to expand

Global Automotive Tires Market to reach $575 billion by 2025 - click to expand

Global carbon black market is projected to expand at a CAGR of 4.4 percent through 2026 - click to expand

Global rubber gloves market size is expected to reach $22.1 billion by 2027 - click to expand

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