Thursday, 28 April 2011
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Good Year calls senior notes worth $350 mn for redemption
AKRON(Commodity Online) : The Goodyear Tire & Rubber Company has called $350 million of its outstanding 10.500% senior notes due 2016 for redemption on May 27, 2011. Goodyear intends to use net proceeds from its recent mandatory convertible preferred stock offering to fund the redemption. The redemption will result in savings to annualized interest expense of approximately $40 million, of
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