Ryder System gets $400 million 364-day syndicated term loan

By Sarah Lizee

Olympia, Wash., April 1 – Ryder System, Inc. entered into a new $400 million 364-day unsecured syndicated term loan, according to a press release.

The term loan will be used for working capital and other general corporate purposes of Ryder and its subsidiaries.

BofA Securities, Inc. acted as a joint lead arranger and joint bookrunner. Bank of America, NA will serve as administrative agent. MUFG Bank, Ltd. acted as a joint lead arranger, joint bookrunner and as syndication agent. Additionally, BNP Paribas, Mizuho Bank, Ltd., U.S. Bank, NA, Truist Bank and PNC Bank, NA acted as joint lead arrangers and documentation agents.

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

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