AKRON (March 18, 2005) — Goodyear intends to add a $300 million third-lien secured term-loan facility to already announced facilities of about $3.35 billion.
Goodyear said the new loan will be due in March 2011. It will be secured equally by the tire maker's existing secured bonds due in 2011. The loan is being arranged by JP Morgan and Deutsche Bank Securities Inc.
The new loan is expected to close in early April.
In a separate move, Goodyear also said it snared a high-image original equipment fitment for the 2006 Pontiac Solstice, due out this summer. The two-seat sports car will sport Goodyear Eagle RS-A high-performance tires in size P245/45R18.