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Commercial Credit Group Closes 14th ABS Transaction - $319,395,000

October 21, 2021, 07:20 AM
Filed Under: Industry News

Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company based in Charlotte, NC, announced the closing of a 144a privately placed term asset-backed security (ABS) transaction. The $319,395,000 financing was placed with a broad group of fixed income investors, representing 24 unique institutions. JP Morgan Securities LLC served as Structuring Agent and Lead Bookrunner for the placement. The multi-tranche placement carried the following ratings:

  • Class A-1: P-1 (sf), Moody’s; A-1+ (sf), S&P, $ 71,000,000
  • Class A-2: Aaa (sf), Moody’s; AAA (sf), S&P; $217,275,000
  • Class B: Aa2 (sf), Moody’s; AA (sf,), S&P; $16,379,000
  • Class C: A2 (sf) Moody’s; A (sf), S&P; $14,741,000

“Once again we received significant oversubscription in each class and welcomed a number of new investors to our platform” said Paul Bottiglio, Senior Vice President and Chief Financial Officer. “The continued support of the investment community is a reflection of the strength of our portfolio, the historical performance of our previous securitizations and the company’s consistent underwriting policies and procedures.”

The financing contracts supporting the security consist of a diverse pool of CCG’s customer contract originations in the construction, fleet transportation, manufacturing and waste equipment industries.

Commercial Credit Group Inc. a wholly owned subsidiary of Commercial Credit, Inc. CCG is headquartered in Charlotte, NC, and operates full-service offices in Buffalo, NY and Naperville, IL. CCG Equipment Finance Limited services the Canadian Provinces of Ontario, west to British Columbia, from its Canadian headquarters in Hamilton, Ontario.

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