Goodyear Announces Pricing of $1.05 Billion of Senior Notes

Rhea-AI Summary

Goodyear (NASDAQ: GT) priced a public offering of $1.05 billion senior unsecured notes due 2032 at 100% of principal, bearing 8.875% interest, expected to close June 4, 2026.

Net proceeds are intended mainly to repay, redeem or repurchase 4.875% and 7.625% 2027 senior notes and to temporarily reduce borrowings under several credit facilities.

Positive

• $1.05 billion senior notes due 2032 extend debt maturity profile
• Proceeds targeted to address $700 million of 4.875% 2027 notes
• Proceeds targeted to address $117 million of 7.625% 2027 notes
• Portion of proceeds intended to temporarily repay multiple credit facilities

Negative

• New 2032 notes carry an 8.875% annual interest rate
• Principal of new notes exceeds total principal of 2027 notes outstanding

News Market Reaction – GT

-1.01%

-1.01% Session close to close

In the Jun 2 session, GT declined 1.01%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement detailed Goodyear’s plan to issue $1.05 billion of senior unsecured notes due 2032...

Analysis

This announcement detailed Goodyear’s plan to issue $1.05 billion of senior unsecured notes due 2032 at 8.875%, primarily to repay existing 2027 notes totaling $817 million in principal and to manage various credit facilities. This follows a recent quarter marked by a sizable net loss and softer demand. Investors may watch how the company balances interest costs, executes its operational initiatives, and manages future refinancing needs.

Key Figures

Senior notes offering: $1.05 billion Coupon rate: 8.875% per annum Offering price: 100% of principal +5 more

8 metrics

Senior notes offering $1.05 billion Aggregate principal amount of senior notes due 2032

Coupon rate 8.875% per annum Interest rate on new senior notes due 2032

Offering price 100% of principal Public offering price of the new senior notes

Expected closing date June 4, 2026 Anticipated closing of senior notes offering

4.875% Notes outstanding $700 million Aggregate principal amount of 4.875% Senior Notes due 2027

7.625% Notes outstanding $117 million Aggregate principal amount of 7.625% Senior Notes due 2027

2027 notes maturity March 15, 2027 Maturity date for existing 2027 Senior Notes

New notes maturity 2032 Maturity year of newly issued senior notes

Historical Context

5 past events · Latest: May 06 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 06	Q1 2026 earnings	Negative	-6.0%	Weak Q1 2026 results with net loss and softer demand metrics.
May 01	Marketing campaign launch	Positive	+0.0%	Global Eagle performance tire branding campaign debuting at Kentucky Derby.
Apr 29	Earnings date notice	Neutral	+0.4%	Announcement of timing and access details for Q1 2026 results.
Apr 21	Executive appointment	Neutral	-1.0%	Appointment of new chief communications officer to support transformation messaging.
Mar 02	Brand initiative	Positive	+0.0%	Launch of The Vault marketplace for memorabilia and branded experiences.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent history shows selling pressure on weak earnings, while marketing and corporate news often draw limited or slightly negative reactions.

Recent Company History

Over the last few months, Goodyear reported weak Q1 2026 results on May 6, with a sizeable net loss and shares declining 6.03% the next day. Earlier, the company announced timing for those results and experienced only a small positive move. Brand and marketing initiatives, such as the Eagle performance tire campaign and The Vault marketplace, as well as leadership changes, produced flat to mildly negative price reactions. Against that backdrop, today’s debt financing fits into ongoing balance‑sheet and turnaround efforts.

Key Terms

senior notes, senior unsecured obligations, revolving credit facility, prospectus supplement

4 terms

senior notes financial

"it has priced its offering of $1.05 billion aggregate principal amount of senior notes due 2032"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

senior unsecured obligations financial

"The notes will be senior unsecured obligations of the company."

Senior unsecured obligations are loans or bonds that a company promises to pay back with its own money, but without any special guarantees or collateral. If the company runs into financial trouble, these debts are paid after other debts with priority, meaning they are less protected but still important. They matter because they show how risky it is to lend money to a company.

revolving credit facility financial

"to repay outstanding balances under its first lien revolving credit facility, its European revolving credit facility, its Mexican credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

prospectus supplement regulatory

"The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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AKRON, Ohio, June 1, 2026 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "company") today announced that it has priced its offering of $1.05 billion aggregate principal amount of senior notes due 2032 (the "notes"). The notes will be senior unsecured obligations of the company.

The notes will be offered to the public at a price of 100% of their principal amount and will bear interest at a rate of 8.875% per annum. Goodyear expects the offering to close on June 4, 2026, subject to customary closing conditions.

Goodyear intends to use the net proceeds from this offering to repay, redeem or repurchase its outstanding 4.875% Senior Notes due 2027 (the "4.875% Notes") and its outstanding 7.625% Senior Notes due 2027 (the "7.625% Notes," and, together with the 4.875% Notes, the "2027 Notes") at or prior to their respective maturity on March 15, 2027. Any remaining net proceeds will be used for general corporate purposes. As of March 31, 2026, there was $700 million in aggregate principal amount of the 4.875% Notes outstanding and $117 million in aggregate principal amount of 7.625% Notes outstanding. Pending the repayment, redemption or repurchase of the 2027 Notes, Goodyear intends to temporarily apply a portion of the net proceeds from this offering to repay outstanding balances under its first lien revolving credit facility, its European revolving credit facility, its Mexican credit facility and certain other smaller facilities.

J.P. Morgan Securities LLC, BofA Securities, Inc., Citigroup Global Markets Inc., Fifth Third Securities, Inc., MUFG Securities Americas Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc. and PNC Capital Markets LLC are acting as the joint book-running managers, and Capital One Securities, Inc., CIBC Capital Markets, Santander US Capital Markets LLC, Citizens JMP Securities, LLC, HSBC Securities (USA) Inc., Huntington Securities, Inc., KeyBanc Capital Markets Inc., U.S. Bancorp Investments, Inc., Regions Securities LLC and Standard Chartered Bank are acting as the 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 29, 2025. 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:

J.P. Morgan Securities LLC	The Goodyear Tire & Rubber Company
Attn: J.P. Morgan Syndicate Desk	Investor Relations Department
270 Park Avenue	200 Innovation Way
New York, New York 10017	Akron, OH 44316
Telephone: 1-212-834-4533	Telephone: 330-796-3751

This news release shall not constitute a notice of redemption with respect to the 4.875% Notes. 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.

About The Goodyear Tire & Rubber Company
Goodyear is one of the world's largest tire companies. It employs about 63,000 people and manufactures its products in 49 facilities in 19 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 news 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 our strategic initiatives; our ongoing obligations to the purchasers of our off-the-road tire business, the Dunlop brand and our polymer chemicals business; actions and initiatives taken by both current and potential competitors; increases in the prices paid for raw materials and energy; inflationary cost pressures; changes in tariffs, trade agreements or trade restrictions; uncertainty regarding the timing and amount of any IEEPA tariff refund;  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; 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; economic and supply disruptions associated with events beyond our control, such as war, including the current conflicts between Russia and Ukraine and in the Middle East; 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.

MEDIA CONTACT: KELLY MCGLUMPHY KELLY_MCGLUMPHY@GOODYEAR.COM

INVESTOR RELATIONS CONTACT: RYAN REED RYAN_REED@GOODYEAR.COM

 

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SOURCE The Goodyear Tire & Rubber Company

FAQ

What did Goodyear (NASDAQ: GT) announce on June 1, 2026 about new senior notes?

Goodyear announced pricing of $1.05 billion senior unsecured notes due 2032, bearing 8.875% interest annually. According to Goodyear, the notes will be issued at 100% of principal amount and are expected to close on June 4, 2026, subject to customary conditions.

What is the interest rate and maturity of Goodyear’s new 2032 senior notes (GT)?

Goodyear’s new senior notes due 2032 will bear interest at 8.875% per year. According to Goodyear, these senior unsecured obligations are priced at 100% of principal and are part of a $1.05 billion public offering under an effective shelf registration statement.

How will Goodyear use the $1.05 billion senior notes proceeds and what happens to the 2027 notes (GT)?

Goodyear plans to use net proceeds mainly to repay, redeem or repurchase its 4.875% and 7.625% senior notes due 2027. According to Goodyear, remaining funds may support general corporate purposes and temporarily repay balances on several revolving and other credit facilities.

How much of Goodyear’s 2027 senior notes is outstanding before the 2032 notes offering (GT)?

Before the 2032 notes offering, Goodyear had $700 million of 4.875% notes and $117 million of 7.625% notes outstanding. According to Goodyear, the new $1.05 billion issuance is intended to address these 2027 maturities and support other corporate and financing needs.

When is Goodyear’s $1.05 billion 2032 senior notes offering expected to close (GT)?

The 2032 senior notes offering is expected to close on June 4, 2026. According to Goodyear, the transaction is subject to customary closing conditions and is being conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission.

How can investors obtain the prospectus for Goodyear’s 2032 senior notes offering (GT)?

Investors can request the prospectus supplement and accompanying prospectus from the offering’s book-running managers. According to Goodyear, contact details are provided for J.P. Morgan Securities and Goodyear’s Investor Relations Department, including mailing addresses and telephone numbers for information requests.