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From Times Staff and Wire Reports

Greyhound Seeks Cash and Restructuring: The bus lines company said it may run out of cash this winter and faces a bankruptcy filing if bondholders refuse to approve its plan to swap debt for common stock. The warning, in a proxy statement filed with the Securities and Exchange Commission, follows a proposal by Greyhound to exchange $98.9 million of outstanding 8.5% convertible debentures that mature in 2007 for 9.9 million common shares. The bondholders have offered their own plan to swap debt for stock, but Greyhound turned it down. However, both sides said they have laid the groundwork for further negotiations.

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