Yellow Gets Competing Bankruptcy Loan Offers From MFN, Estes (2)

Yellow Corp. put off asking a federal judge to let it borrow $60 million from lenders led by investing giant Apollo Global Management because it received last-minute alternative offers from MFN Partners and Estes Express Lines.

• Hedge fund MFN — Yellow’s largest shareholder — has offered a cheaper bankruptcy financing package that matures later, but it is currently opposed by certain existing lenders, a lawyer for Yellow said in a bankruptcy hearing Wednesday
• Rival trucker Estes has also offered a different bankruptcy loan that would be slightly cheaper and bigger than the Apollo-led loan, Yellow lawyer Pat Nash ...