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Stonebriar Completes Significant Increases, Extensions to Primary Credit Facilities

May 15, 2024, 07:00 AM
Filed Under: Equipment Finance News

Stonebriar Finance Holding completed significant increases and extensions to its primary credit facilities as it positions itself for continued growth. In April, Stonebriar increased the size of its unsecured revolving credit facility to over $500 million and extended the facility’s maturity date to April 2027. Subsequently, Stonebriar increased the size of its secured credit facility to $2 billion and extended the facility’s maturity date to May 2028. Several new lenders joined Stonebriar’s existing lender group in support of the activities.

Dave B. Fate, Stonebriar CEO, said: “Stonebriar continues to position itself to take advantage of strong market conditions and the shift to private credit.  With this additional funding capacity, we will continue to provide mission-critical financing solutions to our customers. Certainty of funding is crucial to our customers, and Stonebriar stands out in the industry for its unparallelled ability to provide it. Approaching $7 billion of owned and serviced assets and the 10-year mark of operations, Stonebriar’s focus on our customers and their success remains at the center of everything we do.”

Stonebriar was pleased to partner with the Royal Bank of Canada and Bank of America to restructure the two facilities. Stonebriar was advised by Vedder Price LLP.

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

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