| YRC’s debt-swap deal is a key first step on a long journey
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Friday, January 8, 2010
The immediate drama is over, but YRC Worldwide Inc.’s efforts to stay afloat until the national economy jump-starts the freight industry are far from complete.
The Overland Park-based trucking company scored a Hail Mary pass on New Year’s Eve, persuading enough bondholders to swap almost $500 million in debt for a majority of YRC’s stock. Approval of the deal, which went through five deadline extensions, was considered key to avoiding bankruptcy... Rest of Story from Kansas City Business Journal
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