Goodyear Plans To Raise €300M Via Debt Offering

Goodyear Tire & Rubber Co’s GT European subsidiary, Goodyear Europe B.V. (GEBV), has commenced a private offering of €300 million of senior notes due 2028.
The notes will be senior unsecured obligations of GEBV and will be guaranteed on a senior unsecured basis by Goodyear and certain of its wholly-owned U.S. and Canadian subsidiaries.
GEBV intends to use the net proceeds from this offering to redeem in full its 3.75% Senior Notes due 2023 and for general corporate purposes.
Price Action: GT shares are trading lower by 2.65% at $16.53 in premarket on the last check Monday.