04:01 AM EDT, 05/30/2025 (MT Newswires) -- Goodyear Tire & Rubber ( GT ) said late Thursday that it priced a $500 million offering of five-year senior notes with a 6.625% annual interest rate.

The company said the bonds will be sold at par and are expected to close on June 3.

The company plans to use the proceeds, along with existing cash, to fully redeem its outstanding $900 million in 5% senior notes due 2026, the company said that part of the redemption is already scheduled for June 30 and will be funded using cash from the recent Dunlop brand sale.