secwatch.observer — SEC 8-K summary
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Issuer:     Yellow Corp (—)
CIK:        0000716006
Form:       8-K
Filed at:   2023-08-25T23:59:59+00:00
Accession:  0001193125-23-220815
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Yellow Corp enters $142.5M DIP financing as part of Chapter 11 restructuring
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- DIP facility includes $42.5M junior term loan from MFN Partners and $100M senior secured Postpetition B-2 facility from Citadel.
- Junior DIP loans bear 15% interest; Postpetition B-2 loans bear ABR+8.5%; maturity Feb 17, 2024 with possible extension to May 17, 2024.
- Up to $70M additional junior DIP available at Debtors' request; interest ABR+10% plus 7.5% exit fee.
- Proceeds used for post-petition working capital, Chapter 11 costs, and adequate protection payments per approved budget.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/716006/000119312523220815/0001193125-23-220815-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/716006/000119312523220815/d546355d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-220815

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