Reuters: YRC trucking makes headway on needed debt deal

December 22, 2009: U.S. trucking giant YRC Worldwide (YRCW.O) said on Monday that it had received the needed approvals from lenders and pension funds to allow it to proceed with a critical debt-for-equity exchange offer that could keep the company out of bankruptcy.

YRC, the largest U.S. trucking company in the "less than truckload" category, has been trying to get a majority of its bondholders to agree to swap about $536.8 million in debt for equity.

Click here to read the full report 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