Reuters: YRC Extends Bondholder Deadline, Shares Surge

December 16, 2009: U.S. trucking giant YRC Worldwide (YRCW.O) still has not been able to secure a critical debt-for-equity exchange with bondholders, but is extending the deadline for bondholder approval of the exchange as it works with lenders to keep the company liquid.

Investors responded to news of the extension by pushing shares up more than 20 percent on Wednesday, heartened in part by the extent of the company's restructuring efforts and the apparent willingness of lenders to offer leniency.

Click here to read the full story from Reuters.

Get Advice Join TDU Donate

Recent News

Zoom Call for IBT Election Volunteers on Saturday, August 14

TDU will hold a national zoom call on Saturday, Aug. 14 for Teamsters who are volunteering to elect the O’Brien-Zuckerman Teamsters United Slate. Join candidates, campaign coordinators and Teamster activists for an update and to make plans to Get Out the Vote and win this fall. Click here to register. 

Central States Assets Fall – But Relief is Coming!

The assets of the Central States Pension Fund fell to $9.8 billion at the end of March, a drop of $573 million in the first quarter.  The fund projects forward that it will pay $2.83 billion in pension benefits this year, while taking in $651 million in employer contributions.

View More News Posts