Ryder System, Inc. Files Pricing Supplement for Debt Offering of $400,000,000 Aggregate Principal Amount of 6.300% Notes Due 2028 and $600,000,000 Aggregate Principal Amount of 6.600% Notes Due 2033

Strategic Insights -

Ryder System, Inc. has filed a registration statement with the Securities and Exchange Commission for the offering and sale of $400,000,000 aggregate principal amount of 6.300% Notes due 2028 and $600,000,000 aggregate principal amount of 6.600% Notes due 2033. The Company has elected to issue a master global security that represents each series of its Medium-Term Notes and will represent the Notes offered hereby. The terms of the Notes described in this Pricing Supplement will be incorporated by reference into the master global security.

Key Takeaways:

  • The Company will offer $400,000,000 aggregate principal amount of 6.300% Notes due 2028 and $600,000,000 aggregate principal amount of 6.600% Notes due 2033 to the public at the applicable Public Offering Price.
  • The Underwriters have advised the Company that they propose initially to offer part of the Notes directly to the public at the applicable Public Offering Price set forth in this Pricing Supplement.
  • The Underwriters have agreed to purchase and the Company has agreed to sell the Notes to the Underwriters in the respective principal amounts set forth below:

Total $400,000,000 $600,000,000

  • The Underwriters have advised the Company that they may engage in transactions with and perform investment banking and commercial lending services for the Company and its affiliates from time to time in the ordinary course of business, for which they receive customary fees and expenses.
  • Certain of the agents or their affiliates that have a lending relationship with the Company routinely hedge their credit exposure to the Company consistent with their customary risk management policies.

Statistics:

  • Aggregate principal amount of 6.300% Notes due 2028: $400,000,000
  • Aggregate principal amount of 6.600% Notes due 2033: $600,000,000
  • Public Offering Price: Not specified
  • Total Underwriters' purchase and sale price: Not specified
  • Underwriters' proposed transaction: Directly to the public at the applicable Public Offering Price

Sources:

  • Securities and Exchange Commission (SEC)
  • Registration Statement on Form S-3 filed with the SEC on March 26, 2021
  • Prospectus dated March 26, 2021
  • Prospectus supplement dated March 26, 2021
  • Pricing Supplement No. 6 Filed pursuant to Rule 424(b)(3)
  • COMTEX_442686416/2255/2023-10-30T18:03:52