YRC Worldwide Inc (YRCW)

[corpchef]

On Monday July 11, 2011, 10:34 am

OVERLAND PARK, Kan. (AP) -- Trucking company YRC Worldwide Inc. said Monday it has secured commitments for a three-year, $400 million asset-based loan facility.

The facility will replace the company's existing asset-backed securitization facility. It is considered a key step in the company's effort to improve the struggling company's liquidity.

YRC said it remains on track to close its restructuring later this month.

Its shares rose 15 cents, or 13 percent, to $1.30 in morning trading.