The Goodyear Tire & Rubber Company announced it has entered into an underwriting agreement for the issuance and sale of $1.05 billion in aggregate principal amount of 8.875% Senior Notes maturing in 2032. The offering is expected to close on June 4, 2026.
Key Details
- Offering: $1.05 billion aggregate principal amount of 8.875% Senior Notes due 2032.
- Terms: The notes will mature on July 15, 2032. Interest will be payable semi-annually on January 15 and July 15, beginning January 15, 2027.
- Use of Proceeds: Net proceeds are intended to be used to repay, redeem, or repurchase the company's outstanding 4.875% and 7.625% notes due in 2027, with any remaining funds for general corporate purposes.
- Ranking & Guarantees: The notes are senior unsecured obligations and will be guaranteed by certain of Goodyear's wholly-owned U.S. and Canadian subsidiaries.