Transportation
Apollo Leads Deal to Provide Trucking Firm Yellow With Bankruptcy Loan
- Investing giant is said to own most of a Yellow term loan
- Trucking firm stares down more than $1 billion in maturities
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Creditors led by Apollo Global Management Inc. are nearing a deal to provide Yellow Corp. with fresh cash during a coming bankruptcy, according to people with knowledge of the matter.
The investing giant is finalizing a deal to lead a debtor-in-possession, or DIP, financing for the imperiled trucking company, said the people, who asked not to be identified because the matter is private. Apollo is well-positioned to provide the financing because it owns most of one of Yellow’s term loans, the people said. Talks aren’t final and plans may change, they added.