Stonebriar Completes $500M Notes Offering

Fried Frank advised RBC Capital Markets, LLC, Deutsche Bank Securities Inc., BofA Securities, Inc., Fifth Third Securities, Inc., Wells Fargo Securities, LLC, CIBC World Markets Corp., Truist Securities, Inc., BNP Paribas Securities Corp., Citizens JMP Securities, LLC, MUFG Securities Americas Inc. and Regions Securities LLC, as initial purchasers, in connection with the offering of $500 million aggregate principal amount of 7.000% senior notes due 2031 by Stonebriar ABF Issuer LLC (Stonebriar). Stonebriar intends to use the net proceeds from the offering to fund the redemption in full of Stonebriar's outstanding preferred equity and to pre-fund the redemption of certain of Stonebriar's outstanding senior notes, with any remainder for general corporate purposes.

Stonebriar is a diversified commercial finance company that provides financing solutions in the non-bank sector of the commercial finance industry. Stonebriar's indirect parent and investment manager are affiliates of Eldridge, an asset management and insurance holding company.

Corporate partners Daniel J. Bursky and Andrew B. Barkan led the Fried Frank team, which included tax partner Joseph E. Fox and corporate associates Jeff M. Tonge and Sophie Adelman.

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