Stonebriar closes first AAA securitization

Stonebriar Commercial Finance (Stonebriar), a leading independent large-ticket commercial finance company, has announced the closing of a $578 million asset-backed securitization transaction.

SCFET 2018-1 marks the fourth equipment securitization transaction that Stonebriar has closed in the past 24 months and its first to secure triple-A ratings.

SCFET 2018-1 is secured by a portfolio of commercial equipment loans and leases across a variety of asset classes including rail, aviation, marine transportation, energy, real estate, and manufacturing.

The A-1 and A-2 tranches of the transaction received ratings of “Aaa” and “AAA” from Moody’s Investors Service and Kroll Bond Rating Agency, respectively.

Dave Fate, president and CEO of Stonebriar, said: “Since June 2016, Stonebriar has executed four equipment securitization transactions totaling over $1.6 billion, attracting significant demand from a diverse group of domestic and international institutional investors.”

SCFET 2018-1 included assets from four of Stonebriar’s current business platforms – general equipment, aviation capital, rail leasing and real estate – including a portion of its Canadian portfolio.