New Issue-Goodyear Tire & Rubber Co sells $1.0 bln 7-yr sr nts

Wed May 6, 2009 11:33pm BST
[-] Text [+]
 May 6 (Reuters) - Goodyear Tire & Rubber Co (GT.N: Quote, Profile, Research), on
Wednesday sold $1.0 billion of seven-year senior notes, said
IFR, a Thomson Reuters service.
 The size of the deal was increased from an originally
planned $500 million.
 JP Morgan, Citigroup, Deutsche Bank and Goldman Sachs were
the joint bookrunning managers for the sale.
BORROWER: GOODYEAR TIRE AND RUBBER COMPANY
AMT $1.0 BLN*    COUPON 10.50 PCT    MATURITY 5/15/2016     
TYPE SR NOTES    ISS PRICE 95.864    FIRST PAY 11/15/2009   
MOODY'S B1       YIELD 11.375 PCT    SETTLEMENT 5/11/2009   
S&P B-PLUS       SPREAD 877 BPS/     PAY FREQ SEMI-ANNUAL   
FITCH N/A         MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS**
* FACE AMT:$1.0 BLN. PROCEEDS: 958.46 MLN.
** NON-CALLABLE 3 YRS THEN AT 107.875, 105.250, 102.625, 100.
EQUITY CLAW: 3YR 35% AT 110.50.


 
 
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