secwatch.observer — SEC 8-K summary
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Issuer:     Yellow Corp (—)
CIK:        0000716006
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0001193125-23-239697
Event type: debt
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 1.03, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Yellow Corp obtains Bankruptcy Court approval for $112.5M junior DIP facility in Chapter 11 wind-down
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- Bankruptcy Court final order entered Sep 15, 2023 authorizing Junior DIP Credit Agreement and Postpetition B-2 Amendment.
- Junior DIP Facility provides $42.5M initial term loans and $70M delayed draw term loans, aggregate committed $112.5M.
- Proceeds fund Chapter 11 administration, fees, adequate protection, and other approved costs under court-approved budget.
- Company filed for Chapter 11 on Aug 6, 2023; wind-down and sale of properties to repay indebtedness.
- Facility includes budget compliance, variance testing, and other customary covenants for DIP financing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/716006/000119312523239697/0001193125-23-239697-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/716006/000119312523239697/d540018d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-239697

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