YRC Worldwide Inc. said yesterday that it has reached an agreement to raise funds that will allow the trucking company to reduce its debt by about $300 million, Dow Jones Daily Bankruptcy Review reported today. The company, which was trying to persuade employees to extend their labor contracts for five years, said that the financing comprises $250 million in equity and $50 million in debt that is committed to become equity. YRC is separately seeking to push back the due date on $124 million of debt due in March 2015.
