Reuters: YRC again extends equity offer, cites progress

December 29, 2009: Troubled U.S. trucker YRC Worldwide said it was again extending a crucial debt-for-equity offer that it needs to stay afloat and was working to convince bondholders to participate.

The company said early Tuesday 81 percent of the company's outstanding notes totaling $536.8 million had been tendered for an exchange for equity, up from about 80 percent a week ago, but still shy of a needed threshold.

Click here to read the complete article from Reuters.


Be the first to comment

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

Recent News

Teamster Rail Affiliates Divided Over Tentative Rail Contract

The two Teamster affiliates of rail workers are taking a different stance on the tentative contract negotiated by one of the coalitions of rail unions.

UPS Contract Update

TDU members are distributing contract bulletins to make sure UPSers have a voice in our contract from day one. Download a Contract Update and join the Teamsters United effort to inform UPSers before our union's bargaining proposals are set on October 17. 

View More News Posts