Goodyear increases loan offering to $900 million

ERJ staff report (DS)

Akron, Ohio -- The Goodyear Tire & Rubber Company today announced that it has priced its offering of $900 million aggregate principal amount of 8.25 percent senior notes due August 15, 2020. Earlier this week, the company said it would issue $750-million-worth of notes. The notes will be senior unsecured obligations of the company. The notes will be sold at 99.163 percent of the principal amount. Goodyear expects the offering to close on August 13, 2010, subject to customary closing conditions.

Deutsche Bank Securities Inc., Barclays Capital Inc. and Morgan Stanley & Co. Incorporated served as joint book-running managers for the offering.

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Press release from Goodyear