Stonebriar Commercial Finance (“Stonebriar” or “the Company”) today announced the closing of a $180 million senior secured term loan with a premier low-cost producer of quality sand to the Permian Basin. This facility represents Stonebriar’s fifth closed transaction with the borrower and its affiliates. The loan proceeds were used to refinance existing indebtedness and for general corporate purposes.
The loan is secured by all fixed assets of the borrower including sand plants and related equipment, real property, and reserves.
Reagan Rorschach, Stonebriar Managing Director, stated, “This closing is representative of Stonebriar’s ongoing commitment to strategically and selectively deploy capital into the U.S. onshore oil and gas industry. As the Permian Basin continues to consolidate and producers seek efficiencies throughout the supply chain, our borrower is well positioned for success by the strength of its management team, the unique operational and cost advantages it enjoys, and the consistent quality of the sand it reliably produces for its clients.”
Kyle Parks, Stonebriar Head of Direct Originations, added, “As the largest independent commercial finance company in the U.S., Stonebriar uniquely possesses the balance sheet and resources to structure, underwrite, document, and fund transactions of this complexity and scale. When the fundamentals of proven management, essential-use real and personal property assets in desired geographies, and defensible market leading positions serving viable off-takers exist, as they do here, Stonebriar consistently executes on behalf of its valued clients.”
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 & 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.
For more information contact:
Reagan Rorschach: (469) 609-8523 Reagan.Rorschach@StonebriarCF.com
Kyle Parks: (469) 609-8525 Kyle.Parks@StonebriarCF.com