NEW YORK (Reuters) -- Goodyear Tire & Rubber Co. privately sold $650 million of senior notes in a two-part sale, market sources said Friday.
The deal included $450 million of seven-year fixed-rate notes, which had a coupon of 11 percent, and were priced at 99.413 cents on the dollar to yield 11.125 percent.
The deal also included $200 million of seven-year floating-rate notes, which were priced at six-month London interbank, offered rate plus 8 percentage points.
Both parts can be bought back by the company after four years, although up until the seventh year, they can only be bought back at a premium to their face value.
