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Goodyear talk tightens on €300 million offering of seven-year notes; pricing Tuesday
Chicago, Sept. 21 – Goodyear’s €300 million offering of seven-year notes (Ba3/BB-BB-) was in the market with tightened talk of 2¾% to 3% on Tuesday, according to a market source.
The notes, which are coming from issuing entity Goodyear Europe BV, started with talk at 3% to 3¼%.
Books are expected to close on Tuesday afternoon, London time.
As previously reported, left bookrunner BNP Paribas will bill and deliver. Barclays, Credit Agricole and Deutsche Bank are the senior joint bookrunners. BofA, Citigroup, JPMorgan, MUFG, UniCredit and Wells Fargo are the joint bookrunners.
BBVA, Commerz and SMBC are the co-managers.
The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon.
Proceeds will be used to refinance the €250 million 3¾% notes due 2023 and for general corporate purposes.
Goodyear is an Akron, Ohio-based tire maker.
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