segunda-feira, 11 de julho de 2011

YRC Worldwide advances plan to defer pension fund payments - Kansas City Business Journal:

http://saratogaforest.com/real-estate-marketing.html
The amended credit signed Wednesday, keeps YRC’s $950 million seniot revolving credit facility anda $111.5 million senior term loan in YRC (Nasdaq: YRCW) said in a Monday filingg with the Securities and Exchange Commission. Parties include YRC and some subsidiariee and lenders thatinclude . YRC remain s in talks with independent trustees for the pensionh funds andthe . YRC’s stock close d on Monday at $3.53, down 59 cents, or 14 on volume of 1.86 millio n shares, according to . The stock’s average daily volumwe the past three monthsis 2.
35 million According to the amended agreement, YRC can delaty payment of certain multiemployer benefit fund contributions to no sooned than Jan. 1 and grant first-priority liens on some company-owned real estated to secure the payments. YRC , the International Brotherhoodof Teamsters, for permission for such an The company’s monthly pension fund payments range from $34 millio n to $45 million. The amendment doesn’ allow YRC to voluntarily make any deferred paymentbeforde Aug. 15, unless a payment comes from cash received for real estater that was securingthe payments.
YRC will keep a smallere portion of cash froma sale-leaseback deal and be allowed to sell fewerf assets, each decreased by amounts proportionated to the net book value of the collatera l but not to exceed $50 YRC also can enter debt-for-equity swaps and pay some debt with cash from issuinh equity. Overland Park-based YRC ranks No. 2 on the Kansas City BusinessJournal ’s list of area publicf companies.

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