UPDATE 1-Goodyear sells $650 million private notes-sources

Newswire

NEW YORK, Feb 27 (Reuters) - Goodyear Tire & Rubber Co. sold $650 million of senior notes in a two-part private sale, market sources said on Friday, a move that should leave the troubled company in a better position to repay a chunk of debt maturing next year. Proceeds of the sale, combined with a recently completed $650 million bank loan, are expected to be used to repay debt maturing in 2005, analysts said. With those repayments, the company has an estimated $700 million left to ...

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