Goodyear Commences Senior Notes Offering
The Goodyear Tire & Rubber Company commenced a public offering of $750 million aggregate principal amount of 10-year senior unsecured notes today (10 August 2010), subject to market and other customary conditions. According to the company, Goodyear plans to use the offer offering, together with cash and other funds to redeem $325 million in principal amount of 8.625 per cent senior notes due 2011 and approximately $388 million in principal amount of 7.857 per cent notes due 2011.