Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - GOODYEAR TIRE & RUBBER CO /OH/ | l40510e8vk.htm |
| EX-4.1 - EX-4.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l40510exv4w1.htm |
| EX-4.2 - EX-4.2 - GOODYEAR TIRE & RUBBER CO /OH/ | l40510exv4w2.htm |
| EX-5.4 - EX-5.4 - GOODYEAR TIRE & RUBBER CO /OH/ | l40510exv5w4.htm |
| EX-1.1 - EX-1.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l40510exv1w1.htm |
| EX-5.3 - EX-5.3 - GOODYEAR TIRE & RUBBER CO /OH/ | l40510exv5w3.htm |
| EX-5.2 - EX-5.2 - GOODYEAR TIRE & RUBBER CO /OH/ | l40510exv5w2.htm |
| EX-5.1 - EX-5.1 - GOODYEAR TIRE & RUBBER CO /OH/ | l40510exv5w1.htm |
Exhibit 99.1
|
News Release | |
Corporate Headquarters: 1144 East Market Street, Akron, Ohio 44316-0001
|
Media Website: www.GoodyearNewsRoom.com |
| CONTACT: | Keith Price | |||
| 330-796-1863 | ||||
| FOR IMMEDIATE RELEASE |
#23829fi.810
Goodyear Announces Pricing of $900 Million of Senior Notes
AKRON, Ohio, August 11, 2010 — The Goodyear Tire & Rubber Company today announced that
it has priced its offering of $900 million aggregate principal amount of 8.25% senior notes due
August 15, 2020. The notes will be senior unsecured obligations of the company. The notes will be
sold at 99.163% of the principal amount. Goodyear expects the offering to close on August 13,
2010, subject to customary closing conditions.
The offering was increased from a previously announced offering size of $750 million.
Goodyear intends to use the net proceeds from this offering, together with its current cash
and cash equivalents and unused availability under its credit facilities, to redeem $325 million in
principal amount of 8.625% senior notes due 2011 and approximately $388 million in principal amount
of 7.857% notes due 2011. Goodyear intends to use the remaining net proceeds for general corporate
purposes, which may include the repayment of other outstanding indebtedness.
Deutsche Bank Securities Inc., Barclays Capital Inc. and Morgan Stanley & Co. Incorporated
served as joint book-running managers for the offering.
A shelf registration statement was filed with the U.S. Securities and Exchange Commission and
became automatically effective upon filing 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:
| Deutsche Bank Securities Inc. | Barclays Capital Inc. | |||
| c/o ADP Prospectus Services | c/o Broadridge Financial Solutions | |||
| 1155 Long Island Ave. | 1155 Long Island Ave. | |||
| Edgewood, NY 11747 | Edgewood, NY 11717 | |||
| telephone: 800-503-4611 | telephone: 888-603-5847 | |||
| email: prospectus.cpdg@db.com | email: barclaysprospectus@broadridge.com |
(more)
| Morgan Stanley & Co. Incorporated | The Goodyear Tire & Rubber Company | |||
| Prospectus Department | Investor Relations Department | |||
| 180 Varick St. | 1144 E. Market St. | |||
| New York, NY 10014 | Akron, OH 44316 | |||
| telephone: 866-718-1649 | telephone: 330-796-3751 | |||
| email: prospectus@morganstanley.com |
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.
Goodyear is one of the world’s largest tire companies. It employs approximately 70,000 people
and manufactures its products in 57 facilities in 23 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 realize
anticipated savings and operational benefits from our cost reduction initiatives or to implement
successfully other strategic initiatives; increases in the prices paid for raw materials and
energy; actions and initiatives taken by both current and potential competitors; deteriorating
economic conditions or an inability to access capital markets; pension plan funding obligations;
work stoppages, financial difficulties or supply disruptions at our suppliers or customers; a labor
strike, work stoppage or other similar event; our failure to comply with a material covenant in our
debt obligations; the adequacy of our capital expenditures; 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.