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Stonebriar Issues $227 Million of Fixed-Rate Reset Cumulative Preferred Shares

August 24, 2021

Stonebriar Commercial Finance (“Stonebriar” or “the Company”), a leading large-ticket independent commercial finance company, announced today that it has issued and sold $227,000,000 of Series A 7.50% Fixed-Rate Reset Cumulative Preferred Shares (“Preferred Shares”) in a private offering.

The Preferred Shares, rated “BB” by DBRS, were issued to a group of qualified institutional buyers and will trade under the ticker “STBRCF”. They are perpetual, callable after five years, and will pay semi-annual dividends to investors beginning in October 2021. RBC Capital Markets served as Structuring Advisor, Billing & Delivery Agent and Joint Book-Running Manager.  BofA Securities also served as Joint Book-Running Manager.  BNP Paribas, Citizens Capital Markets, Fifth Third Securities and MUFG Securities Americas served as Co-Manager on the placement.   US Bank National Association serves as Calculation Agent, Paying Agent, Registrar and Transfer Agent for the Preferred Shares.  The DBRS ratings report may be found at   

Dave B. Fate, CEO of Stonebriar, stated “The Preferred Shares represent another milestone in Stonebriar’s ongoing development of efficient and sustainable sources of capital. Along with our new $200 million unsecured revolving credit facility and $1 billion non-recourse warehouse facility, the Preferred Shares provide a strong foundation for the Company’s continued growth and strategic initiatives. Strong market reception for the Preferred Shares allowed us to significantly upsize the issuance while still achieving attractive pricing. This offering is a testament to the quality of our business and our disciplined approach to underwriting and risk management.”   

“The team at RBC Capital Markets did a great job structuring and marketing the Preferred Shares from start to finish,” continued Fate. “We very much appreciate the team’s work and focus on this transaction and believe Stonebriar is extremely well-positioned to continue to provide our customers with the capital and structuring solutions they need heading into 2022.” 

The Company intends to use proceeds from the issuance of the Preferred Shares for general corporate purposes. Akin Gump Strauss Hauer & Feld LLP represented Stonebriar on the transaction. Cravath, Swaine & Moore LLP represented the initial purchasers.

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

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

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Stonebriar Commercial Finance