- SEC Declares Registration Statement Effective
- Required Lenders Approve Bank Amendments
- Company Obtains Pension Fund Consents
YRC Worldwide Inc. announced today that it has satisfied certain requirements related to its previously announced debt-for-equity exchange offers. The company said that its Registration Statement on Form S-4, as amended, has been declared effective by the Securities and Exchange Commission.
It also said that the required lenders have approved the previously announced amendments to the company's credit agreement and asset-backed securitization facility related to the revised minimum tender conditions.
In addition, the revisions to the minimum tender conditions have also been consented to by the required multiemployer pension funds who have deferred contributions under a contribution deferral agreement. This completes major steps with certain critical stakeholders to allow the transaction to proceed without further extensions related to these steps.