Stonebriar Extends $1B Revolving Credit Warehouse Facility, Adds MUFG as Lender

Stonebriar Commercial Finance extended its $1 billion revolving warehouse credit facility for another two years. The facility, which serves as one of Stonebriar’s primary working capital facilities, was originally closed in 2018 and is agented by Bank of America. Other lenders include Credit Suisse, Citizens Bank, Fifth Third Bank, Security Benefit Life and Mitsubishi UFJ Financial Group (MUFG), a new participant in the facility.

The facility, which now extends to July 2025, provides financing for assets from each of Stonebriar’s five business platforms – General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance – including transactions from Stonebriar’s Canadian portfolio.

“We are pleased to amend and extend the facility for another 24 months with this bank group. The warehouse facility remains a key competitive advantage for us and will facilitate continued growth for the company in the years ahead,” Dave B. Fate, CEO of Stonebriar, said. “The team at Bank of America, led by Carl Anderson, did a great job structuring the facility and leading the extension process. Our lender group continues to be supportive, and we are pleased to welcome MUFG and their strong franchise to the Stonebriar relationship. The company is positioned extremely well heading into the second half of the year, and the capabilities provided by our lender group remain a key component.”

Stonebriar will continue to service all assets under the facility, with US Bank acting as account bank, backup servicer and custodian. Clifford Chance LLP represented Stonebriar on the transaction. Milbank LLP represented the lender group.

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