Item 7.01 Regulation FD Disclosure
On November 6, 2020, Ryder System, Inc. (the "Company") announced that it will
redeem the $300,000,000 aggregate principal amount outstanding of its 3.50%
Medium Term Notes due June 1, 2021 (CUSIP No. 78355HKJ7; collectively, the
"Notes" and such transaction, the "Redemption"). The Redemption has been set for
December 7, 2020 (the "Redemption Date"), and is subject to receipt of the
redemption funds by the trustee. The Redemption price of the Notes will be equal
to the greater of (i) 100% of the principal amount of the Notes being redeemed,
or (ii) the sum of the present values of the remaining scheduled payments of
principal and interest on the Notes being redeemed (not including any portion of
such payments of interest accrued as of the Redemption Date), discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate (as defined in the Notes) plus 12.5
basis points, plus in either case, any interest accrued but not paid to the date
of redemption, in accordance with the terms and subject to the conditions of the
respective series of Notes and the indenture governing the Notes.
Notices of redemption are being sent by The Bank of New York Mellon Trust
Company, N.A., the trustee for the Notes, to all currently registered holders of
the Notes.
The information furnished by the Company pursuant to this Item 7.01 shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the "Exchange Act") or otherwise subject to the liability of
that section, and shall not be deemed to be incorporated by reference into any
filing under the Securities Act of 1933, as amended, or the Exchange Act.
Cautionary Note About Forward-Looking Statements
This Current Report on Form 8-K includes statements which may constitute
forward-looking statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The accuracy of these
statements is necessarily subject to risks, uncertainties, and assumptions as to
future events that may not prove to be accurate. Factors that could cause actual
results to differ materially from those expressed or implied include without
limitation, risks related to the ability to fund the Redemption of the Notes
described above and the factors discussed in the Company's most recent Annual
Report on Form 10-K and other filings with the Securities and Exchange
Commission. The Company expressly disclaims any intent or obligation to update
any forward-looking statement, whether written or oral, that may be made from
time to time by or on behalf of the Company or its subsidiaries.
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