YRC to Pay Down $325 Million in Notes from Credit Line

Less-than-truckload carrier YRC Worldwide said Friday it has drawn $325 million from its revolving credit facility to redeem notes due Dec. 1 and May 1.

YRC plans to pay off the debt down early “given the unrest in the credit markets,” Chief Executive Officer Bill Zollars said.

The redemption of the notes was scheduled for November, and YRC said it will have almost $400 million of untapped borrowing capacity.

“Our current financial condition is solid, and with no further note maturities until 2010, we are well positioned to weather this economic environment,” Zollars said in a statement.

YRC is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.