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The Goodyear Tire & Rubber Company announced the results of an exchange offer for its 4.00% Convertible Senior Notes due 2034. Note holders tendered approximately $346 million or 99% of the outstanding notes in exchange for around 28.7 million shares of Goodyear common stock and $23 million in cash. This successful exchange eliminates $346 million in debt from Goodyear's balance sheet and reduces annual interest expense by $14 million, helping the company meet its debt reduction goals.





