YRC Lenders Extend Credit Agreement; New Deadline for Debt Exchange
Amid YRC Worldwide's announcement that it would extend the deadline on its debt-for-equity swap to Thursday night, the less-than-truckload carrier's lenders extended its credit agreement until Jan. 12, giving the company access to $950 million in credi

If successful, the debt-for-equity swap would eliminate a third of YRC's debt.
Amid YRC Worldwide's announcement that it would extend the deadline on its debt-for-equity swap to Thursday night, the less-than-truckload carrier's lenders extended its credit agreement until Jan. 12, giving the company access to $950 million in credit
, the Journal of Commerce reports.
The newly revised credit agreement provides YRC with access to up to $50 million at any time, and suspends a minimum cash requirement, the publication says. The agreement also provides the company with a $111.5 million senior term loan, a Securities and Exchange Commission filing said.
The move essentially takes some of the pressure off the company, and gives the carrier some leeway in sorting out its debt-for-equity program.
The carrier pushed back the deadline for the exchange program for the third time from Dec. 15 to Dec. 17, at 11:59 p.m. Eastern time.
Under the debt-for-equity swap, YRC's latest effort to avoid bankruptcy, the carrier hopes to trade about $536.8 million in debt for about 95 percent of its equity. The effort, if successful, would put the company in a more solid financial position by improving its capital structure, decreasing its cash interest expense and enhancing its near-term liquidity, YRC said in a statement. But if unsuccessful, it could mean bankruptcy for the company.
As of Tuesday night, the company had tendered 75 percent of the aggregate principal amount of the outstanding notes.
According to the company, "it is pleased with the progress it is making on the exchange offer and will continue to work with noteholders to increase the level of support for the recapitalization, which the company commenced following several months of ongoing, active implementation of its comprehensive plan."
The initial deadline for the exchange was set for Dec. 7, but YRC pushed it back to Dec. 8 due to requirements by the SEC, the Kansas City Business Journal reports. If successful, the program would eliminate a third of the company's debt, the publication says.
Not everyone's happy about the debt-swap plans. According to a Bloomberg report, Teamsters President James Hoffa accused Goldman Sachs Group of creating derivatives trades that would benefit from YRC's bankruptcy.
More Drivers

Platform Science Adds Dispatch and Safety Tools
Four additions to PS Fleet help fleets monitor loads, manage driver coaching, share truck locations and adjust video system settings.
Read More →
When Language Stops the Truck: The Return of ELP Out-of-Service Orders
English language proficiency rules for commercial drivers aren’t new, but renewed out-of-service enforcement has raised the stakes. Here’s what carriers need to know before a driver reaches a roadside inspection.
Read More →
Samsara Launches Custom AI Agent Builder
Agent Studio lets fleets create AI tools for hours-of-service monitoring, reporting and driver support, including agents that communicate by phone.
Read More →
Trucker Path Expands Reserved Parking Network
Trucker Path has added close to 6,000 more truck parking spaces to its Trucker Path Reserved Parking Network with the addition of Safe Truck Parking.
Read More →
EEOC Sues Texas Trucking Company Over Driver Age Limits
The agency says Trancasa USA rejected applicants over 65 and applied tougher driving-record standards to those over 60.
Read More →
Nussbaum, Roehl Announce Second Driver Pay Increase This Year
This year has seen a swath of major truck driver pay increases as freight capacity has tightened.
Read More →
From One Generation to the Next: How Mentorship Builds Safer Truck Drivers
After three decades in trucking, Harold Perry shares what he's learned about driver safety, mentorship, and helping the next generation build confidence behind the wheel.
Read More →
Truck Drivers Need More Than Another Alert
Fleets have more visibility into truck health, safety events, and driver activity than ever. The next challenge is turning all that information into useful guidance for the person who has to decide what to do next.
Read More →
FMCSA Removes 110 Truck Driver Training Schools from Certified ELDT List
Federal regulators also are targeting more than 160 additional training providers and launching a nationwide audit of third-party CDL skills testers as part of a broader crackdown on trucking fraud.
Read More →
Hours of Service Pilot Programs: FMCSA Readies for 2027 Rollout
Two pilot programs could eventually reshape hours-of-service rules, giving truck drivers options to pause their 14-hour clock or use longer split sleeper rest periods.
Read More →
