REUTERS/Rebecca Cook/File PhotoAug 1 (Reuters) - Creditors led by Apollo Global Management Inc (APO.N) are nearing a deal to provide Yellow Corp (YELL.O) with fresh cash during a coming bankruptcy, Bloomberg News reported, citing people familiar with the matter.
Yellow declined to comment, while Apollo did not immediately respond to a Reuters request for comment.
Yellow, formerly called YRC Worldwide, is the third-biggest U.S. trucking company.
Yellow has $1.3 billion in debt payments due in 2024, including a $567.4 million term loan due in June and a $729.4 million U.S. Treasury loan due in September.
Reporting by Priyamvada C in Bengaluru; Editing by Anil D'Silva and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons:
Rebecca Cook, Yellow, Priyamvada, Anil D'Silva
Organizations:
REUTERS, Apollo Global Management Inc, Yellow Corp, Bloomberg News, U.S, YRC, Teamsters, USF, Treasury, Thomson
Locations:
Detroit , Michigan, Bengaluru