Home > General > YRC Worldwide extends debt-for-equity offers

YRC Worldwide extends debt-for-equity offers

YRC Worldwide has extended the expiration date for its previously announced exchange offers until 11:59 p.m., New York City time, on December 29, 2009, unless further extended. As of 11:59 p.m., New York City time, on December 28, 2009, 92.0% of the aggregate principal amount of the 5.0% and 3.375% Notes and 53.0% of the 8 1/2% Notes had been tendered into the exchange offers, representing 81.0% of the Company’s outstanding notes.

As of the prior expiration date on December 23, 2009, 90.0% of the aggregate principal amount of the 5.0% and 3.375% Notes and 53.0% of the 8 1/2% Notes had been tendered into the exchange offers, representing 80.0% of the Company’s outstanding notes.

The Company said that it continues to work with its noteholders through this holiday period to increase the level of support for this recapitalisation, which is a key part of the comprehensive plan the Company is implementing to place it on a more solid financial base.

Source: Pressreleasepoint

Advertisements
Categories: General
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: