Miami, Oct 4 (IEBusiness) Ryder System Inc – 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.
(Source Business News Wire)