Goodyear attempts to raise $500 million

ERJ staff report (DS)

Akron, Ohio -- The Goodyear Tire & Rubber Company is seeking to raise approximately $500 million from the financial markets. The company intends to make a public issue of 7-year senior notes, subject to market and other customary conditions. The notes will be senior unsecured obligations of the company.

Goodyear intends to use the net proceeds from this offering, together with current cash and cash equivalents and unused availability under its credit facilities, for general corporate purposes, which will include the repayment on or prior to maturity of $500 million in aggregate principal amount of its senior floating rate notes due December 1, 2009.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Goodyear