Goodyear $500 million credit facility to launch July 28

By Sara Rosenberg

New York, July 21 - The Goodyear Tire & Rubber Co. is scheduled to hold a bank meeting on the afternoon of July 28 to launch its $500 million senior secured funded credit facility due 2007, according to a company spokesperson. JPMorgan is the lead bank on the deal.

Proceeds will be used to refinance the Akron, Ohio, tire company's $680 million senior secured U.S. revolver, which matures on April 30.

Closing is anticipated in August.

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