Goodyear Completes Private Secured Notes Offering

The Goodyear Tire & Rubber Company has announced that it has completed a private offering of 650 million dollars of senior secured notes. The proceeds of the notes were used to repay the remaining amount outstanding under the company’s U.S.

term loan facility, to reduce its 750 million dollars U.S. revolving credit facility to 680 million dollars and for general corporate purposes.

“This financing, along with our recently completed 650 million dollar term loan, have enabled us to meet our goal of refinancing the U.S. Term Loan before April of this year and avoids the milestone fee that would have been payable under our restructured credit facilities put in place last April,” said Robert W.