Yellow | YRC Debt Swap Faces Resistance From Creditors With Derivatives

[Jay C]

This last paragraph converted me from an optimist to a pessimist in a another article this past week

The company is required to complete the exchange offer as part of agreements with its bank lenders, the International Brotherhood of Teamsters and multi-employer pension funds, according to a Nov. 24 regulatory filing. If the exchange fails, YRC said it will seek bankruptcy protection.

Required. If it doesn't happen wages and pension cuts are voided and everyone back to full scale. This is the agreement the Teamsters had with the lenders who carried YRC to the very end. That will result in a forced bankruptcy. No deal. No more ballgame. The reason bondholders backed out was the Chicago vote. I apologize for being redundant

 

[nightcrawler1]

I heard the swap fell short and YRC may be filing ch# 11 bankrupt.is that true?

 

[life62mph]

I heard the swap fell short and YRC may be filing ch# 11 bankrupt.is that true?

Must be you heard it now go back under your rock

 

[Irishman107]

This last paragraph converted me from an optimist to a pessimist in a another article this past week



Required. If it doesn't happen wages and pension cuts are voided and everyone back to full scale. This is the agreement the Teamsters had with the lenders who carried YRC to the very end. That will result in a forced bankruptcy. No deal. No more ballgame. The reason bondholders backed out was the Chicago vote. I apologize for being redundant

Thats been proven wrong Managemant Joe. The Reason the 28% of Bondholders didn't take the deal is because they have insurance and will make more in a BANKRUPTCY. Read the Bloomberg report it is all there. Your not being redundant you are just following Zollars orders. Joe because you said it doesn't make it right. Your dead wrong and still insist its Chicagos fault. More of Joes anti CHICAGO BULLshit

 

[sirduckjr]

This last paragraph converted me from an optimist to a pessimist in a another article this past week



Required. If it doesn't happen wages and pension cuts are voided and everyone back to full scale. This is the agreement the Teamsters had with the lenders who carried YRC to the very end. That will result in a forced bankruptcy. No deal. No more ballgame. The reason bondholders backed out was the Chicago vote. I apologize for being redundant

Chicago voting down the concession is not relavent to the bondholders prefering to utilize the CDS they have purchased on the YRC bonds. Understand these CDS are priced according to risk and considering YRC's credit standing, the high premiums the bondholders have paid to keep these CDS in place mandates liquidation, not some exchange of stock worth no more than a package of charmin toilet paper.

This isn't over yet. YRCW still has a couple of stones to overturn, but it doesn't look good.

 

[nightcrawler1]

Who peed in your wheeties.I was looking for a bit of info and no one asked for your BS attitude.