July 29, 2021
Stonebriar Commercial Finance (“Stonebriar” or the “Company”), a leading large-ticket independent diversified commercial finance and leasing company, today announced that it has extended its $1 billion revolving warehouse credit facility (the “Facility”) for another two years.
The Facility, which serves as one of Stonebriar’s primary working capital facilities, was originally closed in 2018 and is agented by Bank of America. Other lenders include Credit Suisse, Citizens Bank, Fifth Third Bank, Security Benefit Life and Mitsubishi UFJ Financial Group (“MUFG”), a new participant in the facility. The Facility, which now extends to July 2025, provides financing for assets from each of Stonebriar’s five business platforms – General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance – including transactions from Stonebriar’s Canadian portfolio.
Dave B. Fate, CEO of Stonebriar, stated “We are pleased to amend and extend the Facility for another 24 months with this bank group. The warehouse facility remains a key competitive advantage for us and will facilitate continued growth for the Company in the years ahead. The team at Bank of America, led by Carl Anderson, did a great job structuring the Facility and leading the extension process. Our lender group continues to be supportive, and we are pleased to welcome MUFG and their strong franchise to the Stonebriar relationship. The Company is positioned extremely well heading into the second half of the year, and the capabilities provided by our lender group remain a key component.”
Stonebriar will continue to service all assets under the Facility, with US Bank acting as account bank, backup servicer and custodian. Clifford Chance LLP represented Stonebriar on the transaction. Milbank LLP represented the lender group.
About Stonebriar: 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 & Music, 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.
