Liberty Commercial Finance Closes Private Placement of $30MM of Unsecured Notes
JUN 23, 2021 - 6:31 am
Liberty Commercial Finance closed a private placement of $30 million aggregate principal amount of unsecured notes rated BBB by Egan Jones. Piper Sandler served as the sole placement agent for the offering.
“This successful issuance is an enormous milestone for Liberty and is truly transformative for the business,” Eric Freeman, president and CEO of Liberty Commercial Finance, said. “The team at Piper Sandler did a tremendous job understanding our business and presenting to a whole new pool of investors who we are thrilled to have join the Liberty family.”
The notes are unsecured with an interest rate of 6% fixed and mature in June 2026. Liberty Commercial Finance expects to use the net proceeds as additional haircut capital for its senior credit facility, allowing it to increase its direct lending capabilities.
Liberty Commercial Finance is an independent equipment finance company headquartered in Tustin, CA. Since inception in 2017, Liberty Commercial Finance has funded more than $800 million in equipment finance transactions.
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