- Ryder System, Inc. (R, Financial) secures a new $1.6 billion revolving credit facility, adding $200 million of extra credit capacity.
- The credit facility will support Ryder's general corporate purposes and enhance liquidity until 2030.
- Key financial institutions participated in arranging this facility, highlighting confidence in Ryder's financial stability.
Ryder System, Inc. (R) has successfully completed the establishment of a $1.6 billion five-year corporate revolving credit facility. This new arrangement supersedes the existing credit facility, boosting Ryder's credit capacity by an additional $200 million. The credit line is designed to expire on April 22, 2030, promising enhanced financial flexibility for the company's operational needs over the coming years.
With the new credit facility in place, Ryder plans to utilize it for working capital and other general corporate purposes, ensuring sustained financial health and operational efficiency. "Execution of this new, upsized credit facility further solidifies Ryder’s strong liquidity position for the next five years," expressed Cristina Gallo-Aquino, Ryder's Chief Financial Officer.
The financial arrangement showcases strong global banking support, with BofA Securities, Inc. and MUFG Bank, Ltd. acting as joint bookrunners and lead arrangers. Other key institutions involved include BNP Paribas Securities Corp., Mizuho Bank, Ltd., PNC Capital Markets LLC, RBC Capital Markets, and Wells Fargo Securities, LLC, among others.
Ryder System, Inc. is a leading logistics and transportation company in the U.S., Canada, and Mexico, offering comprehensive supply chain solutions, fleet management services, and more. With nearly 250,000 commercial vehicles under management and operations in approximately 300 warehouses, Ryder continues to expand its industry-leading practices and technology-driven innovations.
