The consolidation is intended to give the diversified company "a more consistent image globally," she said.
"The market likes diversified companies much more than pure-play companies."
The deal is the second major one in two months for the diversified company.
Underwriters said the issue could not be called for early redemption by the diversified company.
Ryder itself is a diversified company offering a wide range of support services.
Some analysts said the plan could lead to a breakup of the diversified company.
"Their organic pipeline is rather modest compared to the large diversified companies they ultimately want to emulate."
"Our ultimate vision is to build a diversified company that's bulletproof," he said.
Indeed, Hewlett-Packard is one of the most diversified companies within the computer business.
American Brands, a diversified company that has interests in tobacco and liquor, said it had paid $1.1 billion for the companies.