MUFG Bank acted as facility agent for the renewal of Ryder System’s $300 million receivable-backed financing facility. The renewal provides an additional 364-day period. MUFG Bank and Mizuho Bank are serving as participating lenders.

The receivables-backed financing facility, which is a supplement to Ryder’s $1.4 billion multi-year revolving credit facility, will be used for working capital and other general corporate purposes of Ryder and its subsidiaries.

“With this transaction, Ryder continues to enhance its solid liquidity position by capitalizing on its long-term commercial banking partnerships,” Dan Susik, senior vice president – finance and treasurer of Ryder System, said.

Ryder is a commercial fleet management, dedicated transportation and supply chain solutions company.