Bloomberg: YRC Has Until Yearend to Corral Bondholders

December 18, 2009: YRC Worldwide Inc. has less than two weeks to persuade bondholders to accept a debt exchange and prevent a bankruptcy filing that its employees’ union says may force the biggest U.S. trucking company to liquidate.

YRC, which has pushed back the deadline for the swap three times this month, must complete the tender by Dec. 31 to avoid a $19 million payment of interest and fees that would leave the trucker in an “unsustainable” position, the Overland Park, Kansas-based company said yesterday in a regulatory filing.

Click here to read the full article from Bloomberg.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Members Vote for a New Beginning in Local 96

Washington Gas utility workers have voted in new leadership in Teamsters Local 96 in Washington, D.C. after a grassroots campaign by the New Beginning Slate.

Happy Thanksgiving

Happy Thanksgiving from TDU. We're thankful for union members who are organizing for economic and social justice. Change is coming to the Teamsters!

View More News Posts