MIAMI, FL -- (Marketwire) -- 08/21/09 -- Ryder System, Inc. (NYSE: R) today announced that
as of 5:00 p.m., New York City time, on August 21, 2009 (the "Early Tender
Date"), approximately $288 million aggregate principal amount of Notes, as
described below, had been validly tendered and not validly withdrawn in
connection with its previously announced $100 million cash tender offer.
The terms and conditions of Ryder's offer to purchase (the "Offer") up to
$100 million aggregate principal amount of its outstanding 5.95% Notes due
May 2011, 5.0% Notes due April 2011 and 4.625% Notes due 2010
(collectively, the "Notes"), subject to (i) the order of priority (the
"Acceptance Priority Level") for such series and (ii) a cap of $50 million
on the aggregate principal amount of May 2011 Notes and April 2011 Notes,
on a combined basis, that may be purchased, are described in the Offer to
Purchase dated August 10, 2009 and the related Letter of Transmittal (the
"Offer Documents").
The following table sets forth the amount of each series of Notes validly
tendered as of the Early Tender Date.
Principal
Amount Late
Tendered Tender
as of Total Offer
Title of Principal Early Acceptance Maximum Con- Early Con-
Securities Amount Tender Priority Tender sider- Tender sider-
and CUSIP Outstanding Date Level Amount ation Payment ation
Numbers (000s) (000s) (000s) (1) (1)(2) (1)
--------- --------- ------- -------- ------- ------- -------
5.95% Notes
due May 2011
(CUSIP
No. 78355 $50,000
HJJ 9) $250,000 $90,981 1st (3) $1,050 $30 $1,020
--------- --------- ------- -------- ------- ------- -------
5.0% Notes
due April 2011
(CUSIP
No. 78355 $50,000
HJG 5) $175,000 $95,577 2nd (3) $1,030 $30 $1,000
--------- --------- ------- -------- ------- ------- -------
4.625% Notes
due April 2010
(CUSIP
No. 78355
HJF 7) $225,000 $101,571 3rd (4) $1,020 $20 $1,000
--------- --------- ------- -------- ------- ------- -------
------------------
(1) Per $1,000 principal amount of Notes tendered and accepted for
purchase.
