Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Goodyear Tire & Rubber Co. > News item |
Goodyear sets discount price on $1.2 billion second-lien loan at 98
By Sara Rosenberg
New York, April 16 - Goodyear Tire & Rubber Co. finalized the original issue discount on its $1.2 billion senior secured second-lien term loan (Ba1/BB) at 98, the high end of revised talk of 98 to 98½ and wide of initial talk of 99, according to a source.
Pricing on the loan is Libor plus 375 basis points, after flexing earlier from Libor plus 325 bps.
There is a 1% Libor floor and 101 soft call protection for one year.
J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. and Wells Fargo Securities LLC are the lead banks on the deal.
Proceeds will be used to refinance an existing second-lien term loan.
Goodyear is an Akron, Ohio-based tire company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.