Stonebriar Provides $35MM Lease Financing for Rail Car Purchase
Stonebriar Commercial Finance LLC announced that it has provided $35 million lease financing to fund the purchase of 237 new rail cars. The lessee refines and supplies unbranded gasoline, ultra-low sulfur diesel, heating oil, jet fuel, asphalt, petrochemical feedstocks, lubricants, and other petroleum products in the United States.
Steve White, Senior Managing Director, stated "with Stonebriar managements' extensive knowledge in the rail asset class, we were pleased to be able to execute quickly to meet the customer's short time frame."
Since its inception in April, Stonebriar has committed to in excess of $160 million in financings with over $110 million funded to date. Stonebriar specializes in transactions for businesses in a wide variety of industries throughout the entire credit spectrum located in the United States,Canada and select other foreign jurisdictions.
Stonebriar is a privately held commercial finance company established in 2015 and based in Plano,TX. With financial backing from Security Benefit Corporation, Stonebriar is building a worldclass, multi-billion dollar platform of commercial loans and leases.
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