From Tire Review

AKRON, Ohio -- Fresh from issuing $1 billion in new senior notes, Goodyear Tire & Rubber Co. now wants to redeem some of its older loans.

The tiremaker has called all of its outstanding senior notes due in 2011 and 2015 for redemption on Sept. 29, using the net proceeds from its $1 billion issuance of 8.25 percent senior notes due 2020 to fund these redemptions.

The notes called for redemption are $388 million in principal amount of 7.857 percent senior notes due Aug. 15, 2011, $325 million in principal amount of 8.625 percent senior notes due Dec. 1, 2011, and $260 million in principal amount of 9 percent senior notes due July 1, 2015.