Goodyear to redeem $175 million 8 5/8% notes, $140 million 9% notes

By Laura Lutz

Des Moines, May 9 - The Goodyear Tire & Rubber Co. plans to repay about $175 million of its 8 5/8% notes due 2011 and about $140 million of its 9% notes due 2015.

Funding for the buyback will come from a planned public offering of the company's shares that is expected to raise about $725 million after expenses.

Goodyear is a tire company based in Akron, Ohio.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.