- YRC Worldwide (YRCW) has raised $300M in shares, which will allow the trucking company to repay part of its $1.4B debt, including $69M that is due this month. The firm is also set to receive loans of $1.15B by the end of February.
- YRC sold $250M worth of stock and converted $50M of bonds into shares.
- The fundraising came after Teamsters approved a labor agreement on Monday in vote that enabled the financing to take place.
- "We'll have nothing but clear air and runway for us to focus in on operations for the next five years," says CFO Jamie Pierson.
From other sites
at 4-traders.com (Tue, 4:46PM)
at Zacks.com (Tue, 8:34AM)
at 4-traders.com (Mon, 9:01AM)
at Nasdaq.com (Jan 5, 2015)
at Nasdaq.com (Dec 17, 2014)
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