Ryder System, Inc., a leader in commercial fleet management and supply chain management solutions, announced that it has amended its existing $900 million five-year global revolving credit facility. This amendment increases the facility size to $1.2 billion and extends the maturity date from October 2018 to January 2020. Twelve global financial institutions are participating in the facility.
“Execution of this amendment to our 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 clear 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 Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ Ltd., BNP Paribas, Mizuho Corporate Bank, Royal Bank of Canada, Royal Bank of Scotland, US Bank, and Wells Fargo acted as joint lead arrangers.
Ryder is a FORTUNE 500 commercial fleet management and supply chain solutions company.