Ryder System renewed its $300 million receivable-backed financing facility with two large banks for an additional 364-day period, further enhancing its liquidity position.
The receivables-backed financing facility, which is a supplement to Ryder’s larger $1.4 billion multi-year revolving credit facility, will be used for working capital and other general corporate purposes of Ryder and its subsidiaries.
“With this transaction, Ryder continues to enhance its solid liquidity position by capitalizing on its long-term commercial banking partnerships,” said Dan Susik, Ryder senior vice president – Finance and treasurer.
MUFG Bank acted as facility agent for this transaction. MUFG Bank and Mizuho Bank were participating lenders.
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