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.

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