70%. Their PR says they got 53%, which means they actually lost some (it was 57%).
It was at 53% so they didn't gain any..
70%. Their PR says they got 53%, which means they actually lost some (it was 57%).
The analysts doubt the success of the debt-for-equity swap. A prepackaged bankruptcy supported by two-thirds of secured and unsecured lenders could be executed in about 30 days, the note said, perhaps forcing dissenting bondholders to go along with the exchange.
n that case, shippers probably would stick around to make sure that there were too many carriers and prices stayed low.
“But even in this case, as long as two-thirds of the secured lenders are on board, the plan of reorganization could be drafted and approved pre-bankruptcy,” the note said, adding that YRC could keep running its assets during the process.
“In our view, it is not a foregone conclusion that (YRC) will be liquidated,” the note said. “In fact, we think it is most likely that (YRC) is not liquidated.”
so no matter what the other notes get they have to have 70% of the 8 1/2?
He's your Hero isn't he? he can do no wrong, what did he say to you to make you such a Lover, "listen to me if you if want YRC to live". Last Time I checked they had 57% of the 8 1/2%Bill "Z" just sent me the following message for all you non believers !
[YT]aUrcBUYtbCk[/YT]
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.....
Thats right tick tock tick tock
This article seems to show a glimmer of hope for our livelihood.
[URL=http://www.reuters.com/][URL=http://www.reuters.com/]http://www.reuters.com/[/URL]
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Wall Street Strategies analyst David Silver said he thought the company could still avoid bankruptcy.
"It's bad in the fact that they aren't getting the needed people to step up and convert their shares," said Silver. "But they keep on inching higher. Eventually I think they'll get there."
Silver said he expected YRC to sweeten the deal for the holders of the 8-1/2 percent notes with some additional incentives.
"You're going to see YRC really step up and say this needs to get done," he said.article/idCNN2915171220091229?rpc=44
if they do file for bankruptcy do we go back to full rate? i seem to have read another post where someone was talking about this, but can't quite remember.
Absolutely not. We will make what the bankrupcty judge says we will make and not a penny more. Contracts are voided under bankruptcy. And that is assuming the judge approves a Chapter 11 and doesn't force us to liquidate.
Goodtimes are back again......The stock price is around 1.01...............yipppppeeeeeeeeeeeeeeee
Here's your link to that article UPDATE 3-YRC again extends equity offer, cites progress | Reuters
With only 53 percent of the holders of the 8-1/2 percent bonds tendering, the company remains about $26 million below its required threshold and would need to raise funds to retire those notes, which come due April 2010, a prospect many analysts have deemed difficult.
This article seems to show a glimmer of hope for our livelihood.
[URL=http://www.reuters.com/][URL=http://www.reuters.com/]http://www.reuters.com/[/URL]
[/URL]
Wall Street Strategies analyst David Silver said he thought the company could still avoid bankruptcy.
"It's bad in the fact that they aren't getting the needed people to step up and convert their shares," said Silver. "But they keep on inching higher. Eventually I think they'll get there."
Silver said he expected YRC to sweeten the deal for the holders of the 8-1/2 percent notes with some additional incentives.
"You're going to see YRC really step up and say this needs to get done," he said.article/idCNN2915171220091229?rpc=44