FINDLAY, Ohio (Nov. 15)—Cooper Tire & Rubber Co. has commenced a cash tender offer for specified series of its outstanding debt.
It is offering to purchase up to $175 million in aggregate principal amount of its outstanding 7 5/8 percent notes due 2027 and 8 percent notes due 2019. The tender offer is scheduled to expire Dec. 13.
The tire maker expects to use available funds to purchase securities tendered pursuant to the tender offer. Banc of America Securities L.L.C. will serve as dealer manager and Global Bondholder Services Corp. will be the depositary and information agent for the tender offer.