Encina Equipment Finance closed a new non-recourse secured revolving loan facility with initial lending commitments from three lenders totaling $450 million. Bank of America structured the facility and is the administrative agent and the lead lender.
Franklin BSP Lending and Franklin BSP Capital, business development companies advised by affiliates of Benefit Street Partners, acquired substantially all of the equity interests of Encina Equipment Finance.
Encina Equipment Finance promoted Rick Matte to president and CEO. Matte previously held the role of president and chief operating officer.
Encina Equipment Finance added Brian Daley to its commercial team as senior managing director and commercial leader. Daley joined Encina Equipment Finance from Stonebriar Commercial Finance.
Encina Capital Partners and an affiliate of certain funds managed by Oaktree Capital Management launched Encina Equipment Finance, a new independent equipment finance company.