Goodyear Announces Offering of Senior Notes
AKRON, Ohio, Feb. 20, 2013
AKRON, Ohio, Feb. 20, 2013 /PRNewswire/ -- The Goodyear Tire & Rubber Company
(NASDAQ: GT) today announced that it has commenced a public offering of $750
million aggregate principal amount of 8-year senior notes, subject to market
and other customary conditions. The notes will be senior unsecured
obligations of the company.
(Logo: http://photos.prnewswire.com/prnh/20050204/GTLOGO )
Goodyear intends to use the net proceeds from this offering to fund
discretionary contributions to its frozen U.S. pension plans and, to the
extent not used for such purpose, for general corporate purposes.
Goldman, Sachs & Co., Barclays Capital Inc., Citigroup Global Markets Inc.,
Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., J.P.
Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as the joint
book-running managers for the offering.
The offering will be made under a shelf registration statement that was filed
with the U.S. Securities and Exchange Commission and became automatically
effective on August 10, 2010. 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:
Goldman, Sachs & Co. The Goodyear Tire & Rubber Company
Prospectus Department Investor Relations Department
200 West St. 1144 E. Market St.
New York, NY 10282 Akron, OH 44316
telephone: 866-471-2526 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
Goodyear is one of the world's largest tire companies. It employs
approximately 69,000 people and manufactures its products in 52 facilities in
22 countries around the world.
Certain information contained in this press release may constitute
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 strategic
initiatives; pension plan funding obligations; actions and initiatives taken
by both current and potential competitors; increases in the prices paid for
raw materials and energy; a labor strike, work stoppage or other similar
event; deteriorating economic conditions or an inability to access capital
markets; work stoppages, financial difficulties or supply disruptions at our
suppliers or customers; the adequacy of our capital expenditures; 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.
SOURCE The Goodyear Tire & Rubber Company
Contact: MEDIA CONTACT: Keith Price, +1-330-796-1863 or ANALYST CONTACT: Greg
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