JPMorgan Chase Agents Goodyear’s U.S. $3.2B Refinancing
Goodyear announced it has completed a refinancing of its principal U.S. credit facilities. Significant changes to the amended and restated agreements include:
According to a regulatory filing dated one-year ago (4/20/11), Goodyear noted that JPMorgan Chase was the administrative agent under its amended and restated first lien and second lien credit facilities.
“These financing actions position the company to continue to implement its Strategy Roadmap,” said Darren R. Wells, executive vice president and chief financial officer. “We see this refinancing as a proactive step to improve our financial position, leaving us with no term debt repayments required until 2019.”
Goodyear Tire & Rubber is one of the world’s largest tire companies. It employs approximately 73,000 people and manufactures its products in 53 facilities in 22 countries around the world.