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.

Get Advice Join TDU Donate

Recent News

Carhaul Teamsters United for a Good Contract

The carhaul national master agreement expires on May 31, with no word yet from the International Union on plans, union demands, or even proposal meetings for membership input.  

Labor Rallies Behind the PRO Act

Congress is debating legislation that bans “right to work” laws and makes it easier for workers to organize by ending employer interference and intimidation in union drives. The PRO Act stands for Protect the Right to Organize and labor is uniting to win its passage.

View More News Posts