Goodyear announces US$600 million refinancing

The Goodyear Tire & Rubber Company refinancing itself with $600 million of 5-year senior notes. According to the company, the notes will be senior unsecured obligations of the company. Goodyear intends to use the net proceeds for “general corporate purposes, which may include repaying or redeeming the company’s outstanding 8.75% Notes due 2020…at or prior to their maturity of August 15, 2020”. Currently, there is approximately $282 million in aggregate
principal amount of the 2020 Notes outstanding.