Yellow Corp: going-concern / distress — Yellow Corp. amends DIP credit agreement, increases delayed draw commitments to $170M

Yellow Corp

Increased delayed draw term commitments from $70M to $170M under Junior DIP Credit Agreement Amendment.
Amendments permit up to 7 borrowings of max $25M each; first $70M available before Dec 1, 2023.
After Dec 1, 2023, further draws allowed only if cash and equivalents < $25M.
Postpetition B-2 Credit Agreement Amendment also executed to accommodate the increased commitments.
Bankruptcy Court entered Supplemental Final Order approving the amendments.

item 1.01 item 1.03 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Yellow Corp entered chapter 11 in U. S. Bankruptcy Court for the District of Delaware (petition 2023-08-06).

Proceeding: chapter 11
Court: U. S. Bankruptcy Court for the District of Delaware
Petition: 2023-08-06

Exact text from the filing

on August 6, 2023 (the “ Petition Date ”), Yellow Corporation (the “ Company ”) and certain of its direct and indirect subsidiaries (collectively, the “ Company Parties ”), filed voluntary petitions for relief (the “ Chapter 11 Cases ”) under Chapter 11 of the U. S. Bankruptcy Code in the U. S. Bankruptcy Court for the District of Delaware (the “ Bankruptcy Court ”).

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Source: SEC EDGAR

accession 0001193125-23-282786

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