Debt Deal Could Cut Interest Costs Up to $50 Million, YRC Official Says
YRC Worldwide Inc. should lower cash interest costs by $40 million to $50 million annually once a broad debt refinancing program is completed later this month, Chief Financial Officer Jamie Pierson said.
February 10, 2014YRC Completes $300 Million Refinancing
YRC Worldwide Inc. said it has moved forward in the refinancing of its debt by completing a multi-step transaction worth about $300 million.
February 3, 2014YRC to Meet with Lenders After Union Backs Longer Contract
YRC Worldwide Inc. officials will meet with lenders Jan. 28 to outline a $1.15 billion debt refinancing plan, after the Teamsters union’s approval of a four-year contract extension through 2019.
January 28, 2014YRC Teamsters Approve Contract Extension
Teamsters union members at YRC Worldwide Inc. voted to a four-year contract extension through 2019, which the carrier called a “key ingredient” toward refinancing $1.4 billion in debt.
January 27, 2014YRC Teamsters Voting on Contract Extension as Carrier Faces $69 Million Debt Repayment
Teamsters members at YRC Worldwide Inc. were voting late last week on a revised contract-extension proposal, which is on a fast track because the carrier’s first $69 million of debt repayment looms in less than three weeks.
January 27, 2014Teamster Workers to Vote on New YRC Contract Plan
Teamsters union members at YRC Worldwide Inc. will vote Jan. 25 and 26 on a revised contract extension proposal, which is on a fast track as the first $69 million of debt repayment looms in about three weeks.
January 22, 2014YRC, Teamsters Announce Tentative New Deal
YRC Worldwide and the Teamsters union said late Jan. 17 that they have reached a tentative new labor agreement to help the carrier deal with its debt and financial situation.
January 21, 2014YRC Continues Teamsters Talks, Sees Revised Plan After Extension Rejected
YRC Worldwide Inc. said is evaluating new approaches to its long-term contract situation in talks with the Teamsters union after last week’s rejection of an extension that would have solidified the carrier’s financial situation.
January 16, 2014Union Rejects YRC Contract Extension, Jeopardizing Debt-Reduction Deal
The Teamsters union said employees at YRC Worldwide Inc. have turned down a contract extension proposal that the company said was critical to refi-nancing its debt and assuring long-term stability.
January 13, 2014YRC Teamsters Reject Contract Plan
Teamsters at YRC Worldwide Inc. rejected a contract extension that the company said was crucial to refinancing its debt and ensuring long-term stability.
January 10, 2014