Goodyear Completes Notes Exchange Offers - Tire Review Magazine

Goodyear Completes Notes Exchange Offers

(Akron/Tire Review) Goodyear Tire & Rubber Co. announced that it has completed its offers to exchange up to $1.05 billion in registered notes for previously issued unregistered notes.

The company said that on Dec. 22, 2005, it completed its offer to exchange up to $450 million of 11% senior secured notes due in 2011 and up to $200 million of senior secured floating rate notes due in 2011 for its outstanding unregistered 11% senior secured notes due in 2011 and senior secured floating rate notes due in 2011.

The exchange offer expired at 5 p.m. ET, on Dec. 21, 2005. A total of $449,998,000 of the 11% notes and $200 million of the floating rate notes were validly tendered and accepted for exchange by Goodyear.

According to the terms of Goodyear’s Registration Rights Agreement, dated Mar. 12, 2004, upon the closing of the exchange offer on Dec. 22, 2005, additional interest of 2% per annum on the 11% notes and floating rate notes ceased to accrue and additional interest of 0.25% per annum began to accrue on those notes.

On Jan. 12, Goodyear completed its offer to exchange up to $400 million of 9% senior notes due in 2015, which have been registered under the Securities Act, for all of its outstanding unregistered 9% senior notes due in 2015.

This exchange offer expired at 5 p.m. ET, on Jan. 9, 2006. A total of $400 million of 9% senior notes were validly tendered and accepted for exchange by Goodyear.

You May Also Like

Team Falken driver earns second place finish on Wildpeak R/T tires

Despite flipping his vehicle in the first heat, Justin Hall secured second place at round one of the 2024 NorCal Rock Racing competition.

Team-Falken-second-place-finish

Falken Tire said its Team Falken driver, Justin Hall, secured a second place finish during round one of the 2024 NorCal Rock Racing competition. The start of the event was met with heavy rainstorm, causing the track to be too muddy to practice on, which resulted in the qualifying race also getting cancelled, so a random draw was needed to decide starting positions for the race.

Sullivan Tire acquires seven new locations

Sullivan Tire has purchased the assets and will be leasing the buildings and they will open as Sullivan Tire locations effective June 5.

Sullivan Tire Logo
Yokohama Rubber becomes ATP Tour’s official tire partner

Yokohama Rubber said its partnership with the ATP Tour is aimed at increasing awareness of the Yokohama brand in the European market.

ATP-Tour-x-Yokohama
Global supply chains find their footing in a ‘Goldilocks zone’

The index rose in April to -0.18, from -0.32 in March, which signals that global supply chains are operating at close to full capacity.

GEP-Global-Supply-Chain-Volatility-Index-stock
Bridgestone develops Potenza Sport tires for Maserati’s all-electric SUV

The Maserati Grecale Folgore was designed and produced in Italy, as were its bespoke Bridgestone Potenza Sport Enliten tires.

Maserati_Grecale_Folgore_Bridgestone

Other Posts

Yokohama Rubber expands motorsports tire production capacity at Mishima Plant

Yokohama Rubber will invest approx. $24.2 million in a new line that will expand the plant’s capacity for motorsports tires by 35%.

Yokohama-Japan-plant
Why you should recommend a ‘tune-up’ to your customers

Because of automated systems, many people overlook the basic maintenance that’s still required to keep vehicles running smoothly.

How to select compatible TPMS sensors and tools

Programmable sensors are a fantastic option for simplifying TPMS service and programming tools don’t have to be complicated.

Cracking-the-Code-TPMS-Yanick-1400
Hydraulic suspension bushing replacement tips

Hydraulic suspension bushings were developed in response to customer demands for smoother, quieter and better-handling vehicles.

TR-Continental-bushing