Ryder System announced that it has established a new, upsized $1.6 billion five-year corporate revolving credit facility, which includes 11 global institutions and will expire on April 22, 2030. This replaces Ryder’s current corporate credit facility and provides $200 million of additional credit capacity.

“Execution of this new, upsized credit facility further solidifies Ryder’s strong liquidity position for the next five years,” says Ryder Chief Financial Officer Cristina Gallo-Aquino.

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 confidence and long-term financial support shown by our global banking partners,” says Ryder Senior Vice President of Finance and Treasurer Dan Susik.

BofA Securities Inc. and MUFG Bank Ltd. acted as joint bookrunners and joint lead arrangers. BNP Paribas Securities Corp., Mizuho Bank, Ltd., PNC Capital Markets LLC, RBC Capital Markets, Truist Securities, Inc., U.S. Bank National Association, and Wells Fargo Securities, LLC acted as joint lead arrangers. Regions Bank and Comerica Bank also participated as lenders in the transaction.