YRC Up on Renewal of Credit Facility

R-14Driver

Well-Known Member
Shares of trucking firm YRC Worldwide (YRCWD) are higher by 18 cents, or almost 4%, at $4.30, after the company this morning announced another stage in its recovery plan, an amendment to the line of credit backed by its receivables.

The $325 million asset-backed securitization facility, scheduled to expire October 26th, has been extended to October 19th of next year. YRC paid the fees and interest it had deferred as part of the renewal of the ABS.....................

YRC Up on Renewal of Credit Facility - Stocks To Watch Today - Barrons.com
 

crazy

Well-Known Member
Once again they have paid the fee's and interest What about the principal ???Are they ever going to address this?? Or will they be back for more concessions next year???
 

Cab Lizzard

Well-Known Member
I would have thought that YRCW would have put this latest information out their the day the ballots got mailed. It may be to late to steer the vote in their favor. Either way I still believe that it will be one company with one name across the board with one seniority list. If it passes
Remember all were told that a merger will never happen because of the Brand name the customer perceives !
Who lied to you ????
Does it make for a good business decision ??
Does it cut costs ??
It is not like the YRC people have never done this to a company they bought before . The have done it to everything they have ever got their hands on.
Interesting to see what becomes of Reddaway !
 

R-14Driver

Well-Known Member
IF you remember the conference call this was not completed at the time of the ballots being mailed out ! And none of this will go into effect unless the vote is yes .

New maturity date is October 19, 2011, subject to ratification and the continued effectiveness of the company's previously announced tentative labor agreement.
 

wolf

Stinks around here lately
Looks like we have a crises for the next giveback.....Oct 19, 2011.....and I was only thinking till June 2011.......What did YRC demand that the IBT fought and won for us? Its almost getting funny......
 

Jay C

Banned
YRC Worldwide Renews Asset-Backed Securitization Facility

+Renewal of Credit Facility

=
 

Northern Flash

A true love affair. For the love of money.
Premium
Looks like we have a crises for the next giveback.....Oct 19, 2011.....and I was only thinking till June 2011.......What did YRC demand that the IBT fought and won for us? Its almost getting funny......
That's what I was thinking. They are setting up the next two concessions. The next scheduled concession is June, the second in now put in place for October of 2011. Personally, I think that if this passes, they can squeeze one more in before June 2011 also.
 
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