What's new

Yellow | Assume makes an ASS out of U and ME

wongway said:
You are 100% correct about the Sheep keeping voting YES and heard in 2019 they are going to bump it up to -18% and take another week's of our vacation time too , but they are going to give us the silly stupid $750.00 one time yes signing bonus :heykoolaid:
Click to expand...
Wong why are you still here? Just find another job.
 
falconfan said:
We have changed lenders since then.
The only way they can call the loan due is if they default on it ( miss a payment ) if I understand correctly.They were trying to get it extended through 2021.

As our financial performance has improved in recent years, we reduced our debt to the lowest level in more than a decade while at the same time reinvesting back into the Company," said James Welch, chief executive officer of YRC Worldwide. "Extending the term loan is an important step as we continue to position the Company for long-term success. We believe it is prudent to take the refinancing risk off the table before the term loan matured in early 2019, to focus on executing operationally and improving our financial results. We plan to continue evaluating additional opportunities to strengthen the Company for our customers, employees and investors," concluded Welch.

In addition to the extended maturity, the most substantial changes as a result of the amendment are:

  • A reduction of the outstanding principal to $600 million following a $35.2 million payment at the time of closing the amendment;
  • An increase in the annual amortization from 1% ($7 million) to 3% ($18 million);
  • An increase in the interest rate from LIBOR + 750 basis points to LIBOR + 850 basis points; and
  • If the Company's Contribution Deferral Agreement notes are not extended to at least late October 2022, the term loan maturity will be reset to within 60 days before the CDA's scheduled maturity.
"Extending the maturity of the term loan and reducing the outstanding principal considerably strengthens our capital structure," said Stephanie Fisher, chief financial officer of YRC Worldwide. "With the successful extension of the term loan, we have met the conditions for extending the maturity of our asset based loan facility from February 2019 to June 2021. I would like to thank our lenders who have been supportive of our long-term vision for the Company," concluded Fisher.
Click to expand...
Hu
 
Crayton said:
Wong why are you still here? Just find another job.
Click to expand...
Crayton stop be a sheep and stand up and fight for our pay and rights or you just go find another job, maybe a sheep herder ? if your not willing to stand up for whats right in 2019
fb98b7626cf9d5affbc64c7eade2f953.jpg
 
wongway said:
Crayton stop be a sheep and stand up and fight for our pay and rights or you just go find another job, maybe a sheep herder ? if your not willing to stand up for whats right in 2019
fb98b7626cf9d5affbc64c7eade2f953.jpg
Click to expand...
Wong, maybe you can put in a good word with Ump the goat herder, he may hire Crayton and let him work
his way up to sheep herder, I think goats pay 15% less.
 
Triplex said:
1) My post wasn't a response to you, it was a response to Wong.

2) Wong and I have been jostling each other (in good fun) for a long time now. Since you seem to be fairly new on here I assume you didn't know that.

3) I wish you well also.
Click to expand...
Give him time, and he will figure it out. von.
 
seabreeze said:
Wong, maybe you can put in a good word with Ump the goat herder, he may hire Crayton and let him work
his way up to sheep herder, I think goats pay 15% less.
Click to expand...
I just asked the question. When It’s contract time and the contract isn’t suitable I will leave for another job.
 
You must log in or register to reply here.
Top