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BRIEF-Goodyear to redeem $700 mln in senior notes

April 14 Goodyear Tire & Rubber Co:

* Goodyear will redeem $700 million in senior notes

* Will redeem all of its outstanding $700 million in principal amount of 7.0% senior notes due 2022 on May 15, 2017

* Redemption price will be 103.50 percent of principal amount of notes being redeemed, plus accrued and unpaid interest to May 15, 2017

* To use proceeds from $700 million offering of 4.875% senior notes due 2027, with current cash and cash equivalents, to fund redemption

* Transactions will result in annual interest expense savings of approximately $15 million beginning in 2018

* Continues to expect interest expense to range between $340 million and $365 million for 2017 Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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