Goodyear to add $300 million to financing plan

Akron, Ohio–Goodyear plans to add a $300 million third-lien secured term loan facility to its previously announced $3350 million in new credit facilities maturing in 2010.

Arranged by J P Morgan and Deutsche Bank Securities Inc., the third-lien term facility would be due in March 2011 and be secured equally with the tyre maker’s existing secured bonds due in 2011, Goodyear said. The deal is expected to close in early April.

From Rubber & Plastics News

Press release from Goodyear

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