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Yellow | YRC Worldwide Extends Debt-for-Equity Offers to December 29

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YRC Worldwide Extends Debt-for-Equity Offers to December 29 - Yahoo! Finance

OVERLAND PARK, Kan., Dec. 29 /PRNewswire-FirstCall/ -- YRC Worldwide Inc. (Nasdaq: YRCW) announced today that it 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% of the aggregate principal amount of the 5.0% and 3.375% Notes and 53% of the 8 1/2% Notes had been tendered into the exchange offers, representing 81% of the company's outstanding notes. As of the prior expiration date on December 23, 2009, 90% of the aggregate principal amount of the 5.0% and 3.375% Notes and 53% of the 8 1/2% Notes had been tendered into the exchange offers, representing 80% of the company's outstanding notes.
 
what percent of the 8 1/2 note do they need????because i doesn't look like the 3 day extention got them very far... what do they expect to do with a one day extention??
 
First it was extended weeks at a time, then days at a time, now one day at a time, maybe next will be hours at a time. Then minute by minute.....
 
I just gotta say as an outsider looking in, I don't know how you guys are dealing with this. It would make me crazy. I really tip my cap to all of you dealing with this, I don't think I could stand it. In fact, I know I couldn't.

Hoping for the best for all of you stuck in this purgatory.
 
Just my opinion, but maybe they will try and work out with the bank(another amendment) today to accept the 80% rather than the 95% as was in the original agreement. I think this was the speculation at the very beginning was around 80% approval? Like I said just my thoughts. I feel really bad for the guys who constantly have this to think about, once again out there bustin their butts and trying to keep their minds on the road. Be safe.
 
They must need this to go thru for Q4, probably will cook the
books to show a profit, breaking the streak of q losses
 
04cobra said:
They must need this to go thru for Q4, probably will cook the
books to show a profit, breaking the streak of q losses
Click to expand...

The idea behind this is to get rid of some of the debt not to show a profit. I think they have a 19 Million dollar payment due sometime in the first week of the new year that they were hoping to avoid. YRCW will still show a loss for the 4th qtr no matter what happens as with almost all other carriers.
 
70% and 85% is what was needed. the 70% is only at 53%? The 85% is at over 90%? is that right? I can't even think about it anymore, I need another cup of coffee( or something more)
 
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