Freedom Truck Finance Enters Into New Senior Secured Credit FacilityDecember 21, 2018
Freedom Truck Finance, LLC, a leading secondary truck and trailer finance company, has entered into a new $200 million Senior Secured Credit Facility with Deutsche Bank.
Transaction proceeds were used to repay the company’s existing senior revolving credit facility and will be used to fund new portfolio growth. The new loan agreement streamlines and increases the company’s capital structure and will result in a favorable reduction to the company’s cost of funds.
“Freedom has always enjoyed great relationships with our lending partners and we are excited to lock arms with the team at Deutsche Bank. This new facility enhances our ability to provide competitive lending solutions to truck and trailer dealers all over the country who serve the independent owner operator,” said David Leventhal, President of Freedom Truck Finance.
With the goal of transforming the trucking industry through technology-driven systems, lending services, and relationship-based customer service; Freedom Truck Finance is now positioned for the next several years of originations.
Stephens, Inc. served as exclusive financial advisor to Freedom Truck Finance, LLC.
About Freedom Truck Finance:
Based in Dallas, TX, Freedom Truck Finance, a portfolio company of SunTx Capital Partners, provides indirect financing and warranty solutions to independent owner operator truck and trailer consumers. The company was founded in 2013 and has focused on delivering lending services across the country. The mission of Freedom Truck Finance is to build a workforce that fulfills the needs of the company’s dealer base to create an opportunity for the success of the consumer. For more information on Freedom Truck Finance visit www.Freedomtruckfinance.com.