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INDUSTRY TRANSACTIONS

Stonebriar Provides $40MM Sale-Leaseback to Security Firm

Stonebriar Commercial Finance closed a $40 million sale-leaseback transaction with a large, private equity-owned security services company providing high level security and training for the U.S. government and commercial clients worldwide. The transaction included specialized real and personal property requiring complex structuring and terms.

Encina Upsizes Senior Credit Facility to $250MM

Encina Equipment Finance upsized its senior credit facility to $250 million in total commitments. The facility now includes nine institutions, with four new institutions coming into the syndicate and three existing lenders increasing their respective commitment amounts.

Equify, Wilks Brothers Enter Credit Agreement with CARBO Ceramics

CARBO Ceramics entered into an amended credit agreement with the Wilks Brothers and a promissory note with its affiliate, Equify Financial. The total amount of borrowings under this new structure remains $65 million, however, the debt is now split between Wilks and Equify, $33 million and $32 million, respectively.

Stonebriar Closes $30MM Term Loan for Oilfield Services Firm

Stonebriar Commercial Finance closed a $30 million senior secured term loan facility with a private equity-backed oilfield services provider of fluids management, equipment rental and wellsite services to the onshore oil and gas industry. The facility consists of a $20 million fully funded term loan and a $10 million delayed draw term loan to support the construction of new water pipelines.

Pawnee Leasing Receives New Facility from Sun Life

Sun Life Assurance Company of Canada closed a new funding facility with Chesswood Group’s subsidiary Pawnee Leasing. The new facility will finance Pawnee’s prime originations and provides additional annual funding for Pawnee of up to $80 million, with a cost of funds that are fixed at the time of each tranche.

CIT Agents $135MM Helicopter Facility for LCI

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Helicopter lessor Lease Corporation International (LCI) closed a new asset-backed helicopter facility in excess of $135 million with a syndicate of five banks led by CIT Group as agent. National Westminster Bank, National Australia Bank, Barclays Bank and Huntington National Bank also participated in the financing. The new facility will be used to support the continuing development and expansion of LCI’s fleet.

Utica Equipment Finance Provides $5.65MM in Financing

Utica Equipment Finance recently completed two transactions totaling $5.65 million. Utica first provided a $4 million secured term loan to a U.S.-based energy company, which saw an opportunity to acquire a new above-ground coal mine. Utica also provided a $1.65 million true lease to a Northeast trucking company that wanted to purchase a corporate aircraft to expand business operations.

Stonebriar Provides $15MM Lease to Chemical Producer

Stonebriar Commercial Finance closed a $15 million lease facility with a producer and marketer of agricultural, mining and industrial chemicals. The lease proceeds will support the retirement of prior indebtedness and created incremental capital to be used by the lessee for general corporate purposes.This closing represents the second capital commitment by Stonebriar to the lessee.