YRC Worldwide debt exchange would make bondholders owners; stock plummets

November 2, 2009: YRC Worldwide Inc.’s bondholders are on track to own 95 percent of the company, which could mean the resignation of seven of YRC’s nine directors, if a debt-exchange offer planned to start this week is successful.

The announcement appears as an “out-of-court restructuring and a positive for YRCW’s long-term viability at the expense of current shareholders,” Longbow Research analyst Lee Klaskow said in a Monday note.

Click here to read more at the Kansas City Business Journal.


Be the first to comment

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

Recent News

Thankful for Teamsters Fighting for Change

This Thanksgiving, we’re thankful for TDU members and supporters. Together, we’re organizing to defeat contract givebacks and pension cuts, clean up corruption, and elect strong Teamster leaders in our local unions and at the IBT. And we’re not done yet!

Central States Pension: $15.3 billion

The latest quarterly financial report of the Central States Pension Fund (CSPF) shows that the fund has treaded water during 2017, due to the continued run-up in the stock market. But the underlying problems have only worsened.

View More News Posts