With Labor Agreement In Place, YRC Completes Refinancing

YRC Worldwide | Photo courtesy of Wikimedia Commons
YRC Worldwide | Photo courtesy of Wikimedia Commons

YRC Worldwide Inc. closed on a pair of refinancing agreements worth $1.15 billion, and its CEO said the Overland Park, Kan.-based trucking company will now be able to focus on improving its operations. YRC said the agreements will extend debt maturities to 2019 and will provide savings of about $40 million to $50 million a year. The company’s International Brotherhood of Teamsters workers ratified the terms of a new labor agreement in January.

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