Stonebriar Closes $500 Million Revolving Credit Facility Led by Bank of America, N.A.
Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance and leasing company and an operating subsidiary of Eldridge Industries, is pleased to announce the closing of a new $500 million revolving credit facility (the “Facility”). The Facility will provide Stonebriar with committed, multi-year funding for each of its four business platforms – General Equipment, Rail Leasing, Aviation Capital, and Real Estate. Stonebriar’s bank group includes Bank of America, N.A., Credit Suisse AG, and Goldman, Sachs & Co. Bank of America will act as Facility Agent. US Bank will serve as Back-up Servicer, Custodian and Securities Intermediary. Vedder Price P.C. represented Stonebriar. Chapman and Cutler LLP represented the bank group. Dave B. Fate, President and CEO of Stonebriar, stated "this new Facility represents the continued evolution of Stonebriar with multiple sources of funding for our business. It will provide $500 million of committed, revolving financing to Stonebriar through 2020. We are pleased to be able to work with an outstanding group of banks on this important initiative. The Facility represents a significant milestone for our company and shareholders as we continue to reduce our cost of funding with access to more diversified sources of capital that will enable Stonebriar to achieve its goals and objectives.” About Stonebriar Commercial Finance: Stonebriar, an Eldridge Industries portfolio company 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 4 distinct platforms—General Equipment, Aviation Capital, Rail Leasing and Real Estate. About Eldridge Industries: Eldridge Industries is a private investment firm specializing in providing both debt and equity capital. Eldridge invests across diversified industries with a focus on media and sports, insurance, real estate development, asset lending and financing, branded food and hospitality, and asset management businesses. In particular, the firm seeks to build and grow companies 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 Industries go to www.Eldridge.com.