CHARLOTTE, NC (August 14, 2020) – Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced the closing of a 144a privately-placed term asset-backed security (ABS) transaction (the 2020-1 transaction). The $326,962,000 financing was placed with a broad group of fixed income investors, representing 28 unique institutions. BMO Capital Markets Corp. served as Structuring Agent and Lead Bookrunner for the placement. 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. The multi-tranche placement carried the following ratings:
Notes S&P Fitch DBRS Dollar Amount
Class A-1 A-1+ (sf) F1+ (sf) R-1 (high) (sf) $72,400,000
Class A-2 AAA (sf) AAA (sf) AAA (sf) $312,083,000
Class B AA (sf) AA (sf) AA (sf) $17,297,000
Class C A (sf) BBB+ (sf) A (sf) $15,786,000
Class D BBB+ (sf) BBB+ (sf) BBB (sf) $ 8,396,000
“The company is pleased to have completed its twelfth term ABS transaction since 2011. The strong level of investor support is a reflection of our attention to credit quality, the diversity of the underlying assets, and the strength of our risk management. We are thrilled to continue expanding our relationships with the institutional market,” stated Paul Bottiglio, Vice President and Treasurer. “We are appreciative of the continued support from the ABS investor community and are pleased to welcome several new investors to this transaction.”
