AKRON—Goodyear Europe B.V. has commenced a private offering to eligible purchasers for $350 million aggregate principal amount of senior notes due 2028, the tire maker said Sept. 20.
The notes will be senior unsecured obligations of Goodyear Europe and will be guaranteed on a senior unsecured basis by Goodyear and certain of its wholly owned U.S. and Canadian subsidiaries.
Goodyear Europe intends to use proceeds from the notes to redeem in full its 3.75 percent senior notes—$293 million—due 2023.
Any remaining proceeds will be used for Goodyear Europe's general corporate purposes.