MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R), a leader in commercial fleet management and supply chain management solutions, today 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
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. Ryder s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor s 500 Index. Inbound Logistics magazine has recognized Ryder as a top third party logistics provider and green supply chain partner. In addition, Security Magazine has named Ryder one of the top companies for security practices in the transportation, logistics, supply chain, and warehousing sector. Ryder is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com and follow us on Facebook, YouTube, Twitter, and on our Online Newsroom.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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