Ryder System to early redeem $300 million 3.45% notes due 2021

By Marisa Wong

Los Angeles, July 15 – Ryder System, Inc. announced it will redeem its $300 million outstanding 3.45% notes due Nov. 15, 2021 (Cusip: 78355HKB4) on Aug. 16, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price will be equal to the greater of (i) par and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Oct. 15 par call date, discounted to the redemption date at Treasuries plus 35 basis points.

The company will also pay accrued interest to the redemption date.

The Bank of New York Mellon Trust Co., NA is the trustee.

Ryder is a Miami-based truck rental and fleet management company.

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