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Post Road Equipment Finance Extends Term, Increases Senior Debt Facility to $700MM

August 28, 2023, 07:37 AM
Filed Under: Lender Finance

Post Road Equipment Finance (PREF) increased its non-recourse senior warehouse facility to $700 million of aggregate commitments.

The overall facility size was increased from $550 million to $700 million through the addition of Wells Fargo Bank as a new lender. Bank of America is the Administrative Agent and the lead lender for the facility, which now has four lenders. PREF also recently extended the facility’s revolving commitment period to August 2025.

“We are very pleased to have Wells Fargo Bank join our warehouse facility,” said Tom Davidson, EVP and CFO of PREF. “The experience, strength, capacity and reputation that Wells Fargo brings to the table are all tremendous assets to PREF and will help us to further scale our business while expanding our bank relationships. In addition, we are delighted that all of our existing lenders have elected to extend their commitments to Post Road.”

For more equipment finance industry news, visit Equipment Finance Advisor.

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