MIAMI--(BUSINESS WIRE)--
Ryder System, Inc. (NYSE: R), a leader in commercial
fleet management and supply
chain management solutions, today announced that it has amended its
existing $900 million five-year global revolving credit facility. This
amendment increases the facility size to $1.2 billion and extends the
maturity date from October 2018 to January 2020. Twelve global financial
institutions are participating in the facility.
“Execution of this amendment to our 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 clear 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 Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ Ltd., BNP
Paribas, Mizuho Corporate Bank, Royal Bank of Canada, Royal Bank of
Scotland, US Bank, and Wells Fargo acted as joint lead arrangers.
About Ryder
Ryder is a FORTUNE 500® commercial fleet management and supply chain
solutions company. Ryder’s stock (NYSE:R) is a component of the Dow
Jones Transportation Average and the Standard & Poor’s 500 Index. Inbound
Logistics magazine has recognized Ryder as a top third party
logistics provider and green supply chain partner. In addition, Security
Magazine has named Ryder one of the top companies for security practices
in the transportation, logistics, supply chain, and warehousing sector.
Ryder 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
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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.
Source: Ryder System, Inc.