YRC Worldwide swaps stock to retire bonds
YRC Worldwide Inc. said some of its bondholders swapped $17 million of their bonds for $18 million worth of the company’s common stock.
The swap came March 25, according to a filing the Overland Park-based trucking company filed with the Securities and Exchange Commission.
Bondholders gained 994,689 shares of YRC stock, which closed that day at $18.21 a share. YRC shares finished Thursday at $16.87.
The deal retired their bonds that were set to mature this year and were convertible into common stock. Bondholders also forgave an undisclosed amount of unpaid interest on the bonds, YRC’s filing said.
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This story was originally published April 3, 2015 at 2:00 AM with the headline "YRC Worldwide swaps stock to retire bonds."