On January 28, 2014, YRC Worldwide Inc. launched a process to refinance its existing ABL and term loan facilities with a new $450 million ABL facility and a new $700 million term loan facility. As contemplated, the refinancing would extend the maturity of the company credit facilities and reduce cash interest expense. The company will be meeting with potential lenders in connection with the refinancing and will be giving such lenders certain financial information that gives effect to, among other things, the previously announced extension of the company's collective bargaining agreement with the International Brotherhood of Teamsters, including that it expects adjusted EBITDA for the year ended December 31, 2013, to be approximately $250-260 million, that it expects pro forma adjusted EBITDA for the year ended December 31, 2013, giving effect to the projected cost savings from the amended IBT agreement as if it had been implemented on January 1, 2013, would have been approximately $320 million to 330 million and that it forecasts adjusted EBITDA for fiscal 2014 will be approximately $350-360 million if the amended IBT agreement is ratified and fully implemented.