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Goodyear plans to refinance credit facilities

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Goodyear Tire & Rubber Co. says it intends to refinance its principal credit facilities, including a $1.5 billion first-lien credit facility due in three years.

Other facilities to be financed include:

* a $1.2 billion second-lien term loan facility, also due in 2010;

* a 505 million euro credit facility for the company's Goodyear Dunlop

Tires Europe affiliate, again due in 2010.

Goodyear also expects to amend, restate and extend these facilities

to provide for:

* a $1.5 billion first-lien credit facility due in 2013;

* a $1.2 billion second-lien term loan due in 2014;

* a 505 million euro European revolving credit facility due in 2012.

The transaction is subject to normal conditions and the execution of

definitive documentation, say Goodyear officials.

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