Goodyear launches private offering to raise funds for Cooper Tire acquisition

The Goodyear Tire & Rubber Company commenced a private offering of US$1.45 billion aggregate principal amount of 8- and 10-year senior notes on 13 May 2021.

The purpose? According to an official statement, “Goodyear intends to use the net proceeds from this offering, together with cash on hand and borrowings under its revolving credit facility, to fund the cash portion of the consideration for the acquisition of Cooper Tire & Rubber Company and to pay fees and expenses in connection with such acquisition and the other transactions related thereto.”

Read our special Goodyear-Cooper takeover digital supplement for detailed coverage of the deal.