BofA Agents $1.4B Global Revolver for Ryder

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.

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