New Issue: Goodyear Dunlop prices €250 million 6¾% eight-year notes at par

By Paul A. Harris

Portland, Ore., April 15 - Goodyear Dunlop Tires Europe BV priced a €250 million issue of eight-year senior notes (Ba2/BB/) at par to yield 6¾% on Friday, according to a market source.

The yield printed at the tight end of the 6¾% to 7% price talk.

JPMorgan, BNP Paribas and Credit Agricole CIB were the joint bookrunners.

The Diegem, Belgium-based tire manufacturer plans to use the proceeds to refinance bank debt.

Issuer:	Goodyear Dunlop Tires Europe BV
Amount:	€250 million
Maturity:	April 15, 2019
Securities:	Senior notes
Bookrunners:	JPMorgan, BNP Paribas, Credit Agricole CIB
Co-managers:	HSBC, Natixis Bleichroeder, UniCredit
Coupon:	6¾%
Price:	Par
Yield:	6¾%
Spread:	352 bps
Call protection:	Make-whole call at Bunds plus 50 bps until April 15, 2015, then callable at 103.375, 101.688, par on and after April 15, 2017
Change-of-control put:	101%
Trade date:	April 15
Settlement date:	April 20
Ratings:	Moody's: Ba2
	Standard & Poor's: BB
Distribution:	Rule 144A and Regulation S for life
Price talk:	6¾% to 7%
Marketing:	Roadshow

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