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