MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, today announced that it has established a new $1.4 billion five-year global revolving credit facility which will expire on September 27, 2023. This represents a $200 million increase in the size of Ryder’s existing credit facility, which includes twelve global financial institutions.
“Execution of this new, upsized credit agreement further solidifies Ryder’s strong liquidity position for the next five years,” said Art Garcia, Ryder Executive Vice President and Chief Financial Officer.
The credit facility will be used for working capital and other general corporate purposes of Ryder and its subsidiaries. “We are very pleased with the continued demonstration of long-term financial support and confidence shown by our global banking partners,” said Dan Susik, Ryder Senior Vice President – Finance and Treasurer.
Bank of America N.A, BNP Paribas, Lloyds Bank plc, Mizuho Corporate Bank Ltd, MUFG Bank Ltd, Royal Bank of Canada, U.S. Bank N.A, and Wells Fargo Bank N.A acted as joint lead arrangers.
About Ryder
Ryder is a FORTUNE 500® commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the S&P MidCap 400® index. Ryder has been named among FORTUNE’s World’s Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom and social media pages: Facebook, LinkedIn, Twitter, and YouTube.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
