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The Ryder system has sold $900 million worth of corporate bonds to raise the money, according to a securities filing last month.
The transportation and supply chain provider is using the money for general corporate purposes, a spokesperson told Trucking Dive in an email.
The first series of bonds matures on March 15, 2027 and bears an interest rate of 5.3%, while the second series of bonds matures two years later, in 2029, with an interest rate of almost 5.4%.
The money is offered through 17 financial institutions.
Previously, the company issued $500 million of notes in February 2023, due March 1, 2028, at a rate of 5.65%, according to annual report. Shortly thereafter, another round brought in $650 million in notes due June 1, 2028, bearing interest at 5.25%.
Last November, Ryder also issued $600 million in notes due Dec. 1, 2033, at a rate of 6.6 percent and $400 million, due Dec. 1, 2028, at a rate of 6.3 percent, the report said.
As of the end of Dec. 31, the company reported $7.2 billion in outstanding debt, according to its annual report, filed on Feb. 20. Operating income was nearly $9.5 billion for 2023, up 2% year over year.