Yellow | YRC Worldwide Inc. Enter into Amendment No. 17 to the Credit Agreement

[Jay C]

The Credit Agreement continues to provide the Company with a $950.0 million senior revolving credit facility, including sublimits available for borrowings under certain foreign currencies and for letters of credit, and a senior term loan in an aggregate outstanding principal amount of approximately $111.5 million. The Credit Agreement Amendment permits the Company to receive up to $100 million of net cash proceeds from the issuance of equity interests during the period commencing on May 3, 2010 and ending on the earlier of December 31, 2010 and the date on which the Company receives $100 million of net cash proceeds from such equity issuances, without having to use such net cash proceeds to make a mandatory prepayment under the Credit Agreement.

YRC closing estimates must be at least 2011..thank you
http://eresearch.fidelity.com/erese...71117192089-20100504-26002368&hlinks=vnhl


is expected to announce 2nd quarter 2010 results on or around July 26, 2010

 

[mike9895]

sheesh, what a bunch of mumbo jumbo. Somewhere along the line this company forgot that it was about picking up and delivering freight for a profit.

 

[SuperCourse]

Who would want an equity interest in this turd? What was the fee for this agreement? If they do manage to fund this available cash account, it puts a lock on the revolver? This stuff is way over my head but it sounds to me like JPM is protecting their interest here, am I wrong?