YRC Worldwide Announced It Extended The Expiration Date For Exchange Offers

YRC Worldwide Inc. announced that it has extended the expiration data for its previously announced exchange offers until 11:59 PM ET on December 28. 2009.

As of 5:00 PM on December 23, 2009, 53% of the 8 1/2 % Notes and 90% of the aggregate principal amount of the 5.0% and 3.375% Notes had been tendered into the exchange offers, which represents 80% of the company's outstanding notes.

The company said it continues to work with its noteholders through this holiday period in roder to increase the level of support for this recapitalization.

YRC Worldwide Gets Approvals for Debt-for-Equity Offers

- 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.