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Debt Profile

Ryder’s financing objective is to ensure the availability of capital resources at all times in order to meet the funding requirements of our operations as well as to provide the financial flexibility to pursue growth opportunities. Maintaining a strong investment grade credit rating is a key factor in meeting this objective.

Funding Sources

Ryder continues to have broad access to the debt capital markets with substantial debt capacity to support growth. The ability to flexibly use different sources of funding plays a key role in the financing of Ryder.

Primary Funding Sources

$1.4 billion Committed Global Revolving Credit Facility
– matures September 2023

  • Supports access to U.S. and Canada commercial paper markets
  • Provides drawn funding to subsidiaries in the UK and Puerto Rico

Issuance of Medium Term Notes

  • The U.S. public bond market has been a significant source of term financing for Ryder
  • Learn more about Ryder’s debt issuance activity

Additional Funding Sources

  • Accounts Receivable-Backed Securitization Facility
  • Lease Financing
  • Bank Term Loans – U.S. and international subsidiaries
  • Revolving Lines of Credit to support international subsidiaries
  • Letters of Credit

Debt Issuances

A summary of Ryder System, Inc.'s bond market activity from 2011 - present

Funding

Date Amount ($M) Term Maturity Coupon
5/6/14 $400 5 1/4 years Sept 2019 2.45%
2/17/15 $400 5 years March 2020 2.65%
5/4/15 $300 5 years May 2020 2.50%
8/17/15 $300 5 years Sept 2020 2.88%
2/24/16 $300 5 3/4 years Nov 2021 3.45%
11/1/16 $300 4 3/4 years Sept 2021 2.25%
2/16/17 $300 5 years Feb 2022 2.80%
8/8/17$3005 yearsSept 20222.50%
2/26/18$4505 yearsMarch 20233.40%
6/14/18 $4505 yearsJune 20233.75%
8/6/18 $3002.8 yearsJune 20213.50%
10/30/18$3005 yearsDecember 20233.875%
2/27/19$6005 yearsMarch 20243.65%
5/15/19 $5503 yearsMay 20222.875%

Debt Rating

  Standard & Poor's Moody's Fitch
Short Term Rating A2 P2 F2
Long Term Rating BBB+ Baa1 A-
Outlook Stable Stable Stable

Debt Maturity Profile

A well dispersed debt maturity profile is a key objective in Ryder's financing strategy.


     
* Last Updated 02/14/2019