Goodyear Tire (GT) Announces Offering Of Senior Notes

March 31, 2021 7:50 AM EDT

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The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that it has commenced a public offering of $1 billion aggregate principal amount of 10- and 12-year senior notes. The notes will be senior unsecured obligations of the company. Issuance and sale of the notes is subject to market and other customary closing conditions.

Goodyear intends to use the net proceeds from this offering, together with its current cash and cash equivalents, to redeem in full its outstanding $1 billion 5.125% senior notes due 2023 following, and subject to, the completion of this offering, at a redemption price equal to par plus accrued and unpaid interest to the redemption date.

Citigroup Global Markets Inc.; Barclays Capital Inc.; BNP Paribas Securities Corp.; BofA Securities, Inc.; Credit Agricole Securities (USA) Inc.; Deutsche Bank Securities Inc.; Fifth Third Securities, Inc.; Goldman Sachs & Co. LLC; J.P. Morgan Securities LLC; MUFG Securities Americas Inc.; PNC Capital Markets LLC; SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC are acting as the joint-bookrunning managers for the offering. BBVA Securities Inc.; BMO Capital Markets Corp.; Capital One Securities, Inc.; Citizens Capital Markets, Inc.; Huntington Securities, Inc.; KeyBanc Capital Markets Inc. and Regions Securities LLC are acting as co-managers for the offering.

The offering will be made under an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission on May 13, 2020. The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:

Citigroup Global Markets Inc.

The Goodyear Tire & Rubber Company

c/o Broadridge Financial Solutions

Investor Relations Department

1155 Long Island Avenue

200 Innovation Way

Edgewood, NY 11717

Akron, OH 44316

Attention: Prospectus Department

Telephone: 330-796-3751

Telephone: 1-800-831-9146

Email: prospectus@citi.com

This news release shall not constitute a notice of redemption under the optional redemption provisions of the indenture governing the 5.125% senior notes due 2023. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Goodyear is one of the world's largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.



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