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Goodyear Tire & Rubber.

Goodyear Tire & Rubber reported that on August 18 it completed the redemption of $150 million in Euro Convertible Debentures that carried an interest rate of 6-7/8%. The debentures were called at 101% of their principal amount plus accrued interest. Approximately $117 million in principal amount of the debentures has been converted into equity at a conversion prices of $40.12 per share of common stock, while the remaining $33 million of debentures were redeemed for cash. Annual interest savings will exceed $9 million.
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Title Annotation:Corporate, Financial News
Publication:Rubber World
Article Type:Brief Article
Date:Sep 1, 1993
Words:84
Previous Article:Arco Chemical, UOP and Huels AG.
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