| YRC Worldwide bondholders approve debt-for-equity swap
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Thursday, December 31, 2009
YRC Worldwide Inc. has succeeded in persuading enough bondholders to exchange their debt for a majority stake in the company’s shares, wiping almost $500 million in debt from the company’s books and staving off a possible bankruptcy filing.
The Overland Park-based trucking and logistics company (Nasdaq: YRWC) said in a release Thursday that it had met the required levels of participation from holders of three kinds of debt by the Wednesday night deadline... Rest of Story from Kansas City Business Journal
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