By Aleesia Forni
Virginia Beach, Nov. 5 - Ryder System, Inc. sold a $300 million issue of 2.45% senior notes (Baa1/BBB/A-) due 2018 on Monday with a spread of Treasuries plus 115 basis points, according to an informed source.
The notes sold at the tight end of talk.
Pricing was at 99.771 to yield 2.5%.
Mitsubishi UFJ Securities (USA) Inc., Morgan Stanley & Co. LLC, RBS Securities Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC were the joint bookrunners.
The transportation and logistics company is based in Miami.
| Issuer: | Ryder System Inc.
|
| Amount: | $300 million
|
| Description: | Senior notes
|
| Maturity: | Nov. 15, 2018
|
| Bookrunners: | Mitsubishi UFJ Securities (USA) Inc., Morgan Stanley & Co. LLC, RBS Securities Inc., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC
|
| Coupon: | 2.45%
|
| Price: | 99.771
|
| Yield: | 2.5%
|
| Spread: | Treasuries plus 115 bps
|
| Trade date: | Nov. 4
|
| Settlement date: | Nov. 12
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: A-
|
| Price talk: | Treasuries plus 120 bps area
|
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