Ryder System selling $250 million notes due 2019 in Tuesday's session

By Andrea Heisinger

New York, Feb. 19 - Ryder System, Inc. is preparing a $250 million offering of medium-term notes due 2019 (Baa1/BBB/A-) for Tuesday pricing, according to a market source and a 424B3 filing with the Securities and Exchange Commission.

The notes have a make-whole redemption until one month prior to maturity and have a par call after that date.

There is a change-of-control put at 101%.

BNP Paribas Securities Corp., BofA Merrill Lynch, Mizuho Securities USA Inc. and RBC Capital Markets LLC are the bookrunners.

Ryder was last in the U.S. bond market with a $350 million offering of 2.5% notes due 2018 priced on Aug. 15, 2012 at Treasuries plus 175 basis points.

The transportation and logistics company is based in Miami.

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