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Prospect News home > News index > List of issuers G > Headlines for Goodyear Tire & Rubber Co. > News item
Published on 5/13/2021 in the Prospect News High Yield Daily.

Goodyear driving by with $1.45 billion notes in two bullet tranches

By Paul A. Harris

Portland, Ore., May 13 – Goodyear Tire & Rubber Co. plans to price $1.45 billion of senior notes (B2/B+/BB-) in two bullet tranches in a Thursday drive-by, according to market sources.

The Rule 144A and Regulation S deal is coming in tranches of eight-year notes with initial guidance of 5¼% to 5½% and 10-year notes with initial guidance of 5½% to 5¾%.

J.P. Morgan Securities LLC is the lead.

The Akron, Ohio-based tire manufacturer plans to use the proceeds plus cash on hand and cash drawn from its revolving credit facility to fund the cash portion of its acquisition of Cooper Tire & Rubber Co.


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