Akron, Ohio – Goodyear Dunlop Tires Europe (GDTE) is sen to launch a private offering of €250 million in "senior notes" due 2023, the company has announced.
The notes, said Goodyear, would be "senior unsecured obligations of GDTE", the European subsidiary of the Akron-based tire-maker.
The notes will be guaranteed on a senior unsecured basis by Goodyear and some of its wholly-owned US and Canadian subsidiaries.
The issuance and sale of the notes are subject to market and other customary closing conditions.
GDTE said it intended to use the net proceeds from this offering, together with its current cash and reserves, to redeem in full €250 million aggregate principal amount of its 6.75 percent senior notes due 2019.