June 24, 2021 – Stonebriar Commercial Finance (“Stonebriar” or “the Company”) today announced the closing of a new $200 million, three-year committed unsecured revolving credit facility (“RCF”) as the Company continues to diversify funding sources and increase financial flexibility.
The RCF will supplement the Company’s existing $1 billion non-recourse warehouse and be used to fund continued origination growth. RBC Capital Markets will serve as Administrative Agent, Joint Lead Arranger and Joint Bookrunning Manager. Fifth Third Bank will serve as Joint Lead Arranger and Joint Bookrunning Manager. Other lenders include Bank of America, BNP Paribas, Citizens Bank and MUFG Union Bank.
“The RCF represents the next strategic step in the evolution of Stonebriar’s funding capabilities as we look to continue to diversify our funding sources and unencumber the Company’s balance sheet,” said Dave B. Fate, Chief Executive Officer of Stonebriar. “We are fortunate to have such a strong, committed “core” lender group, and are pleased to welcome several new lenders to the Stonebriar relationship. The team at RBC, led by Erwin Van Der Voort, did an outstanding job structuring and agenting the facility. We look forward to the continued partnership between the two firms.”
Clifford Chance LLP represented Stonebriar on the RCF. White & Case LLP represented the lender group.
About Stonebriar Commercial Finance: Stonebriar, an Eldridge business based in Plano, TX, is a leading provider of financing solutions for businesses in a wide variety of industries, of various sizes and credit profiles. Stonebriar leases and finances assets located primarily in North America and select other jurisdictions worldwide currently through 5 distinct platforms—General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance. To learn more about Stonebriar Commercial Finance please visit www.StonebriarCF.com.
About Eldridge: Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit www.eldridge.com.