Goodyear restructures Dunlop's European finances

Brussels--Goodyear has announced that its affiliate, Goodyear Dunlop Tires Europe BV has arranged a new line of credit, paying off an existing loan and extending the credit facilities.

A statement from Goodyear said, "The facility will initially provide 165 million Euro of funding, but has the ability to be expanded to 275 million Euro. The facility has a term of five years, but will be subject to customary annual renewal of back-up liquidity lines. The new facility, which is expected to be funded by year-end, will replace an existing 82.5 million Euro facility."

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Press release from Goodyear