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.
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