YRC Worldwide reaches deal on debt-for-equity swap
SAN FRANCISCO (MarketWatch) -- Trucking firm YRC Worldwide on Thursday staved off a possible bankruptcy filing after reaching a debt-for-equity exchange with its bondholders. The deal will enable YRC, which has been scrambling to shore up its liquidity this year, to defer $19 million in lender interest and fee payments in the fourth quarter as well as $20 million to $25 million per quarter during 2010. The company launched the offer Nov. 2.
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