Vedder Price Counsels Stonebriar Commercial Finance on $685 Million ABS Issuance
Vedder Price is pleased to announce that its Global Transportation Finance team, led by Shareholders Mark J. Ditto and Marc L. Klyman, represented Stonebriar Commercial Finance (Stonebriar), a leading independent large-ticket commercial finance company, in its sixth commercial equipment asset-backed securitization (ABS), SCFET 2019-2, a $685 million ABS issuance with top tranches rated triple A.
SCFET 2019-2 is secured by a portfolio of commercial 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.
“We’re proud to be a part of Stonebriar’s growth and the success of its ABS program,” said Geoffrey Kass, Chair of Vedder Price’s Global Transportation Finance team. “We look forward to our continued relationship with Stonebriar and the continued success of that program and Stonebriar’s other ventures.”
Vedder Thinking | News Vedder Price Counsels Stonebriar Commercial Finance on $685 Million ABS Issuance
Press Release
October 31, 2019
Vedder Price is pleased to announce that its Global Transportation Finance team, led by Shareholders Mark J. Ditto and Marc L. Klyman, represented Stonebriar Commercial Finance (Stonebriar), a leading independent large-ticket commercial finance company, in its sixth commercial equipment asset-backed securitization (ABS), SCFET 2019-2, a $685 million ABS issuance with top tranches rated triple A.
SCFET 2019-2 is secured by a portfolio of commercial 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.
“We’re proud to be a part of Stonebriar’s growth and the success of its ABS program,” said Geoffrey Kass, Chair of Vedder Price’s Global Transportation Finance team. “We look forward to our continued relationship with Stonebriar and the continued success of that program and Stonebriar’s other ventures.”
