Goodyear Sets $1.05 Billion Senior Notes Pricing at 8.875% Interest

Goodyear Tire & Rubber Company has priced a $1.05 billion senior notes offering due 2032 at 100% of face value, carrying an annual interest rate of 8.875%. The Akron-based tire giant expects the deal to close on June 4, 2026, pending standard closing conditions. The proceeds will primarily go toward retiring its outstanding 4.875% and 7.625% Senior Notes due 2027 ahead of their March 15, 2027 maturity. As of March 31, 2026, $700 million of the 4.875% Notes and $117 million of the 7.625% Notes remained outstanding. Any leftover funds will be deployed for general corporate purposes. Goodyear also plans to temporarily use part of the proceeds to pay down balances on its first lien revolving credit facility, European revolving credit facility, Mexican credit facility, and other smaller facilities until the 2027 Notes are fully redeemed. The offering is being managed by a syndicate led by J.P. Morgan Securities LLC, BofA Securities, Inc., and Citigroup Global Markets Inc., with 10 additional book-running managers and 10 co-managers handling distribution. The deal is being offered under a shelf registration statement filed with the U.S. Securities and Exchange Commission on May 29, 2025. The notes are senior unsecured obligations of the company. Goodyear, one of the world’s largest tire manufacturers with 63,000 employees across 49 facilities in 19 countries, operates two global Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg.