Goodyear Raises $1.05B via 8.875% Senior Notes to Refinance 2027 Debt
GT•Goodyear priced $1.05 billion of senior unsecured notes due 2032 at a coupon of 8.875%, with closing expected on June 4, 2026. It will use net proceeds to repay $700 million of 4.875% notes and $117 million of 7.625% notes due March 2027, plus credit facility balances.
1. Offering Terms
Goodyear issued $1.05 billion of senior unsecured notes due June 15, 2032, at a coupon rate of 8.875%. The notes were priced at 100% of par and are expected to close on June 4, 2026, subject to customary conditions.
2. Use of Proceeds
Net proceeds will repay $700 million of 4.875% senior notes and $117 million of 7.625% senior notes maturing March 15, 2027. Remaining funds will service balances on its first lien revolving credit facility, European and Mexican credit facilities, and other smaller facilities.
3. Impact on Debt Profile
The transaction extends debt maturities by five years but increases the weighted average coupon, which may raise annual interest expense. This refinancing enhances liquidity by reducing near‐term obligations while maintaining access to credit markets.
