YRC Worldwide Reaches Agreement to Reduce Debt by $300 Million
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Carlyle (CG) Unit to Acquire 2.33M Shares of YRC Worldwide (YRCW) at $15/Share
December 30, 2013 2:15 PM ESTOn December 22, 2013, Carlyle (Nasdaq: CG) Strategic Partners II, L.P. (CSP II) and CSP II Coinvestment, L.P. (CSP II Coinvest) entered into an exchange agreement with YRC Worldwide (Nasdaq; YRCW) the Issuer (the Exchange Agreement), pursuant to which CSP II and CSP II Coinvest agreed to exchange $20,190,552 in aggregate principal amount of the Issuers 10% Series B Convertible Senior Secured Notes due 2015 (the Series B Notes) for an aggregate of 1,386,044 shares of Common Stock. The Common Stock will be issued... More
YRC Worldwide (YRCW) Expects Up to $50M in Annual Interest Expense Savings - CFO
December 23, 2013 12:10 PM ESTYRC Worldwide (Nasdaq: YRCW) announced plans to cut its debt by $300 million with the issuance new equity, sending... More
YRC Worldwide (YRCW) Plans $300M Debt Reduction; Will Issue Equity, Conv. Notes
December 23, 2013 8:46 AM ESTYRC Worldwide, Inc. (Nasdaq: YRCW) announced that it has reached an agreement with certain holders of its Series A Convertible Notes, Series B Convertible Notes and other institutional investors that will allow it to reduce debt by approximately $300 million. In doing so, the company will meet a primary requirement (retiring at least 90% of the company's Series A and B Convertible Notes) needed to satisfy the International Brotherhood of Teamsters' (IBT) conditionality of ratifying the Memorandum of Understanding (MOU) proposal that is currently out for ratification by the company's employees who are IBT members. However, the... More
