Goodyear Tire & Rubber has amended the terms of its existing European revolving credit facility. The U.S. automobile manufacturer has extended the maturity of the loan to 2016 and has also reduced its amount from €505 million to €400 million.

Its European unit, Goodyear Dunlop Tires Europe, has raised €250 million in a sale of senior secured notes, due in 2019. The net proceeds from the offering will be used to repay existing borrowings on the European revolving credit facility and for general corporate purposes.

Click here for the release from PR Newswire.