YRC Worldwide signs $300M deal to reduce debt

Overland Park, Kan., trucking company YRC Worldwide Inc. announced Monday it had signed a $300 million deal to pay down debt.

The deal includes $250 million in equity and $50 million in notes for stock, according to the St. Louis Business Journal.

“With a positive ratification vote and an amended and extended pension fund note, the improved financial picture will allow the company to increase its investment in new tractors, trailers, technology and equally if not more importantly training and developing its people.” CEO James Welch said in a release.

Read more from the St. Louis Business Journal.