Goodyear Tire & Rubber Co. will seek commitments to add a $300 million third-lien secured term loan facility to its previously announced new credit facilities' financing of $3.35 billion.
The third-lien term loan would be due March 2011 and be secured equally with Goodyear's existing secured bonds due that year, say Goodyear officials. It is being arranged by JPMorgan and Deutsche Bank Securities Inc.
"The facility is subject to the receipt of lender commitments and the execution of definitive documentation and would be expected to close in early April."
