Goodyear Announces Offering Of Senior Notes
Goodyear Tire & Rubber Company (NASDAQ: GT) has announced a public offering of $500 million in 5-year senior notes. The company plans to use the proceeds, along with existing cash and cash equivalents, to fully redeem its outstanding 5.000% Senior Notes due 2026, which currently has $900 million outstanding. The company has already issued a notice to redeem $400 million of the 2026 Notes using proceeds from the Dunlop brand disposition, with a redemption date of June 30, 2025.
The offering will be managed by multiple financial institutions, including Deutsche Bank Securities, BofA Securities, and others. The notes will be senior unsecured obligations and will be offered under an effective shelf registration statement filed with the SEC.
Goodyear Tire & Rubber Company (NASDAQ: GT) ha annunciato un'offerta pubblica di 500 milioni di dollari in obbligazioni senior a 5 anni. La società intende utilizzare i proventi, insieme alla liquidità e agli equivalenti di cassa esistenti, per rimborsare integralmente le sue obbligazioni senior 5,000% in scadenza nel 2026, attualmente pari a 900 milioni di dollari. La società ha già emesso un avviso per il rimborso di 400 milioni di dollari delle obbligazioni 2026, utilizzando i proventi derivanti dalla cessione del marchio Dunlop, con data di rimborso fissata al 30 giugno 2025.
L'offerta sarà gestita da diverse istituzioni finanziarie, tra cui Deutsche Bank Securities, BofA Securities e altre. Le obbligazioni saranno obbligazioni senior non garantite e saranno offerte nell'ambito di una dichiarazione di registrazione a scaffale efficace depositata presso la SEC.
Goodyear Tire & Rubber Company (NASDAQ: GT) ha anunciado una oferta pública de 500 millones de dólares en bonos senior a 5 años. La compañía planea usar los ingresos, junto con el efectivo y equivalentes de efectivo existentes, para redimir completamente sus bonos senior al 5.000% con vencimiento en 2026, que actualmente tienen un saldo pendiente de 900 millones de dólares. La empresa ya ha emitido un aviso para redimir 400 millones de dólares de los bonos de 2026 utilizando los ingresos de la venta de la marca Dunlop, con fecha de redención el 30 de junio de 2025.
La oferta será gestionada por varias instituciones financieras, incluyendo Deutsche Bank Securities, BofA Securities y otras. Los bonos serán obligaciones senior no garantizadas y se ofrecerán bajo una declaración de registro en estantería efectiva presentada ante la SEC.
Goodyear Tire & Rubber Company (NASDAQ: GT)는 5년 만기 선순위 채권 5억 달러 공개 발행을 발표했습니다. 회사는 기존 현금 및 현금성 자산과 함께 이 자금을 사용하여 현재 9억 달러가 발행된 2026년 만기 5.000% 선순위 채권을 전액 상환할 계획입니다. 회사는 이미 던롭 브랜드 매각 수익을 이용해 2026년 채권 4억 달러를 상환하겠다는 공지를 발행했으며, 상환일은 2025년 6월 30일입니다.
이번 발행은 Deutsche Bank Securities, BofA Securities 등 여러 금융기관이 관리할 예정입니다. 해당 채권은 무담보 선순위 채무로, SEC에 제출된 효력 있는 선등록서에 따라 제공됩니다.
Goodyear Tire & Rubber Company (NASDAQ: GT) a annoncé une offre publique de 500 millions de dollars en obligations senior à 5 ans. La société prévoit d'utiliser les fonds levés, ainsi que la trésorerie et les équivalents de trésorerie existants, pour rembourser intégralement ses obligations senior à 5,000 % arrivant à échéance en 2026, dont 900 millions de dollars sont actuellement en circulation. La société a déjà émis un avis de remboursement de 400 millions de dollars des obligations 2026, en utilisant les produits de la cession de la marque Dunlop, avec une date de remboursement fixée au 30 juin 2025.
L'offre sera gérée par plusieurs institutions financières, notamment Deutsche Bank Securities, BofA Securities et d'autres. Les obligations seront des engagements senior non garantis et seront proposées dans le cadre d'une déclaration d'enregistrement en étagère effective déposée auprès de la SEC.
Goodyear Tire & Rubber Company (NASDAQ: GT) hat eine öffentliche Emission von 500 Millionen US-Dollar in 5-jährigen Senior Notes angekündigt. Das Unternehmen plant, die Erlöse zusammen mit vorhandenen Zahlungsmitteln und Zahlungsmitteläquivalenten zu verwenden, um seine ausstehenden 5,000% Senior Notes mit Fälligkeit 2026 vollständig zurückzuzahlen, die derzeit noch 900 Millionen US-Dollar ausstehen haben. Das Unternehmen hat bereits eine Mitteilung zur Rückzahlung von 400 Millionen US-Dollar der 2026er Notes unter Verwendung der Erlöse aus dem Verkauf der Marke Dunlop herausgegeben, mit einem Rückzahlungstermin am 30. Juni 2025.
Das Angebot wird von mehreren Finanzinstituten, darunter Deutsche Bank Securities, BofA Securities und anderen, verwaltet. Die Notes werden unbesicherte Seniorverbindlichkeiten sein und unter einer wirksamen Shelf-Registration-Erklärung bei der SEC angeboten.
- Strategic debt refinancing to manage upcoming maturities
- Multiple top-tier financial institutions supporting the offering
- Partial redemption of 2026 Notes funded through Dunlop brand disposition proceeds
- Taking on new debt of $500 million
- Continued reliance on debt financing
Insights
Goodyear's $500M senior notes issuance is a strategic debt refinancing that should improve maturity profile and potentially lower interest expenses.
Goodyear is making a strategic financial move by issuing
This refinancing strategy accomplishes several objectives. First, it extends Goodyear's debt maturity profile by replacing 2026 notes with ones likely maturing in 2030. Second, given the current interest rate environment compared to when the 2026 notes were issued, this move could potentially reduce Goodyear's interest expenses, improving cash flow. Third, by using proceeds from the Dunlop brand disposition alongside this new issuance, Goodyear is effectively reallocating capital from non-core assets to strengthen its balance sheet.
The impressive syndicate of underwriters—including Deutsche Bank, BofA Securities, BNP Paribas, and nine other major institutions—suggests strong institutional support for this offering. This extensive banking relationship network indicates market confidence in Goodyear's financial standing despite challenges in the tire industry. The timing of this refinancing, ahead of the 2026 maturity, demonstrates proactive financial management by Goodyear's leadership team as they continue implementing their "Goodyear Forward" strategic initiatives mentioned in the forward-looking statements.
Goodyear intends to use the net proceeds from this offering, together with its current cash and cash equivalents, to redeem in full the company's remaining
Deutsche Bank Securities Inc.; BofA Securities, Inc.; BNP Paribas Securities Corp.; Citigroup Global Markets Inc.; Credit Agricole Securities (
The offering will be made under an effective shelf registration statement that was filed with the
Deutsche Bank Securities Inc. | The Goodyear Tire & Rubber Company |
Attn: Prospectus Group | Investor Relations Department |
1 Columbus Circle | 200 Innovation Way |
Email: prospectus.ops@db.com | Telephone: 330-796-3751 |
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 68,000 people and manufactures its products in 53 facilities in 20 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.
Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors, many of which are beyond our control, that affect our operations, performance, business strategy and results and could cause our actual results and experience to differ materially from the assumptions, expectations and objectives expressed in any forward-looking statements. These factors include, but are not limited to: our ability to implement successfully the Goodyear Forward plan and our other strategic initiatives, including the sale of our chemical business; risks relating to the ability to consummate the sale of our chemical business on a timely basis or at all, including failure to obtain the required regulatory approvals or to satisfy the other conditions to closing the transaction; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; delays or disruptions in our supply chain or the provision of services to us; a prolonged economic downturn or period of economic uncertainty; deteriorating economic conditions or an inability to access capital markets; a labor strike, work stoppage, labor shortage or other similar event; financial difficulties, work stoppages, labor shortages or supply disruptions at our suppliers or customers; the adequacy of our capital expenditures; changes in tariffs, trade agreements or trade restrictions; foreign currency translation and transaction risks; our failure to comply with a material covenant in our debt obligations; potential adverse consequences of litigation involving the company; as well as the effects of more general factors such as changes in general market, economic or political conditions or in legislation, regulation or public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.
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SOURCE The Goodyear Tire & Rubber Company
FAQ
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