AKRON, Ohio — The Goodyear Tire & Rubber Co. has priced its offering of an additional $100 million aggregate principal amount of its 8.25 percent senior notes due Aug. 15, 2020. The notes will be senior unsecured obligations of the company.

The notes will be sold at 100.75 percent of the principal amount, and Goodyear expects the offering to close on Aug. 25, subject to customary closing conditions.

The offering, together with the company's previously announced issuance of $900 million of 8.25 percent senior notes due 2020, increases the total aggregate principal amount of these 8.25 percent senior notes due 2020 to $1 billion.

Goodyear intends to use the net proceeds from this offering, together with current cash and cash equivalents, to redeem $260 million in principal amount of its outstanding of 9 percent senior notes due 2015.

A shelf registration statement was filed with the U.S. Securities and Exchange Commission and became automatically effective upon filing on Aug. 10.