Ryder System has sold $900 million worth of corporate bonds to raise money, according to a securities document 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 set of notes matures on March 15, 2027, and has an interest rate of 5.3%, while the second set of notes matures two years later, in 2029, with an interest rate of nearly 5.4%.
The money is being offered through 17 financial institutions.
Previously, the company issued $500 million in notes in February 2023, maturing on March 1, 2028, with an interest rate of 5.65%, according to an annual report. Shortly afterward, another round put forth $650 million in notes, maturing on June 1, 2028, with an interest rate of 5.25%.
Last November, Ryder also issued $600 million in notes, maturing Dec. 1, 2033, with an interest rate of 6.6%, and $400 million, maturing Dec. 1, 2028, with an interest rate of 6.3%, the report said.
At the end of Dec. 31, the company reported $7.2 billion in outstanding debt, per its annual report, signed Feb. 20. Operating revenue was nearly $9.5 billion for 2023, up 2% year over year.
