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

TDU Black Leadership Conference

African-American Teamsters will hold TDU’s first national Black Leadership Conference, July 13-14 in New York City.

YRCW Local-by-Local Vote Count Results

Get the local-by-local vote on the YRCW contract and every supplement.  Check out the vote in your local and others. See where the Yes and No votes prevailed.

View More News Posts