Holland & Knight Assists Ryder System in Restructuring $100 Million in Debt
September 9, 2009
Laurie L. Green- Ft Lauderdale
MIAMI – Holland & Knight is pleased to announce that Kara MacCullough and Laurie Green, partners in the firm's Business Law Section, assisted Miami-based transportation and logistics company, Ryder System, in structuring the purchase of $100 million in debt, allowing Ryder to reduce its overall interest expenses.
MacCullough and Green set up a “waterfall” debt tender offer, which established the priority and limits for each series of notes Ryder intended to purchase and how much they needed to spend upfront. Together, they helped Ryder navigate complex securities laws and volatile markets, allowing the company to purchase $100 million dollars worth of notes with various maturing dates and advantageous interest rates.
Both attorneys were named "Dealmakers" by the Daily Business Review for their work on this transaction.
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