Goodyear to repay third-lien term loan, plans to repay bonds in 2008

By Sara Rosenberg

New York, Aug. 15 - The Goodyear Tire & Rubber Co. will repay its $300 million third-lien term loan on Thursday, according to a company news release.

In addition, the company plans on repaying $650 million of secured notes that are due in 2011 during the first quarter of 2008.

The debt repayments are made possible by the company's recent sale of its Engineered Products business and its successful equity offering.

Goodyear is an Akron, Ohio-based tire company.

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