As part of a larger strategy to improve its capital structure, The Goodyear Tire & Rubber Company announced last week that it is in the market with a $3.35 billion refinancing deal. The announcement was made in connection with news from the company that it expects to report stronger fourth quarter results.
Syndication was launched last Friday on two components of the deal: a $1.5 billion asset-based credit facility, which is comprised of a revolver and a term loan; and a $1.2 billion second lien term loan. A bank meeting is slated for March 3 for the euro equivalent of $650 million in credit facilities for its Goodyear Dunlop Tires Europe affiliate.
JP …
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