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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181003005870/en/
Ryder System, Inc.
Media:
Jonathan Mayor, 305-500-3161
or
Investor
Relations:
Bob Brunn, 305-500-4210
Source: Ryder System, Inc.