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CCG News - 13th Term ABS

CCG Closes $75 Million Senior Unsecured Notes

Posted May 19, 2021

CHARLOTTE, NC (May 19, 2021) – Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced the closing of a private placement of $75,000,000 aggregate principal amount of senior unsecured notes. The notes are NAIC 1 equivalent and due May 2026. The notes were placed with a broad group of institutional fixed income investors, including insurance companies, asset managers and banks. Piper Sandler & Co. served as the sole placement agent for the offering.

“The notes offering marks a key milestone for CCG as we enhance our liquidity profile and further diversify our capital structure,” said Dan McDonough, co-founder and CEO of CCG. “The market’s eager reception and the underlying rating of our notes is reflective of the hard work of our employees, the performance of our portfolio, as well as the durability of our business model. We have never been better positioned to grow with and serve our customers.”

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