Goodyear talks $1.2 billion second-lien loan at Libor plus 325 bps

By Sara Rosenberg

New York, March 27 - Goodyear Tire & Rubber Co. launched a $1.2 billion senior secured second-lien term loan on Tuesday with price talk of Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99, according to sources.

The loan includes 101 soft call protection for one year, sources said.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance an existing second-lien term loan.

Goodyear is an Akron, Ohio-based tire company.

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