Retail

Goodyear files Form 8-K as it attempts to secure $650 million loan

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Goodyear Tire & Rubber Co. has filed a Form 8-K with the United States Securities and Exchange Commission as part of its attempt to secure a $650 million term loan.

Goodyear's Form 8-K provides information to potential lenders under the proposed loan. That information includes an update on the company's investigation into possible improper accounting in its overseas operations, and the ongoing SEC investigation related to the company's restatement of prior-period financial results.

The information may also be disclosed in connection with any future capital markets transaction, according to the company.

On Feb. 3, Goodyear announced its intention to increase the amount of a new term loan being arranged by JPMorgan and Citigroup from $300 million to $650 million.

In order to get the loan, Goodyear has to have the consent of the lenders holding a majority of the commitments under each of Goodyear’s senior secured credit facilities.

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