YRC Worldwide Plans $537M Debt Exchange

Law360, New York (November 2, 2009, 2:56 PM EST) -- As it continues to battle a down transportation market, trucking company YRC Worldwide Inc. plans to launch a $536.8 million debt exchange offer to noteholders in order to gain open access to the company's $106 million revolver credit reserve and permission to defer interest payments to lenders.

In negotiations with two stakeholder committees — one representing the interests of the company's contingent convertible notes, the other representing the company's 8.5 percent notes — YRC agreed that it must successfully complete the debt offering in order to...
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