Ryder System established a new $1.4 billion five-year global revolving credit facility which will expire on September 27, 2023.
According to a related 8-K filing, Bank of America served as administrative agent for the transaction. Bank of America, BNP Paribas, Lloyds Bank, Mizuho, MUFG Bank, Royal Bank of Canada, U.S. Bank and Wells Fargo Bank acted as joint lead arrangers.
This represents a $200 million increase in the size of Ryder’s existing credit facility, which includes 12 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 EVP and CFO.
The credit facility will be used for working capital and other general corporate purposes of Ryder and its subsidiaries. “
Ryder is a FORTUNE 500 commercial fleet management, dedicated transportation, and supply chain solutions company.
Monitor is extremely pleased to introduce our readers to its first annual leadership awards. Deborah and I work at opposite ends of the corporate spectrum; I run an independent small ticket equipment finance company, and she runs Worldwide Leasing and... read more
Monitor’s inaugural Pioneer award is reserved for a leader who has demonstrated an ability for forward thinking and a willingness to step away from proven methods to employ new strategies that transform the status quo. A true builder at heart,... read more