CHARLOTTE, NC (October 20, 2021) – 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 $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:
Notes Moody's S&P Dollar Amount
Class A-1 P-1 (sf) A-1+ (sf) $71,000,000
Class A-2 Aaa (sf) AAA (sf) $217,275,000
Class B Aa2 (sf) AA (sf) $16,379,000
Class C A2 (sf) A (sf) $14,741,000
“Once again we received significant oversubscription in each class and welcomed a number of new investors to our platform” stated Paul Bottiglio, Senior Vice President and CFO. “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 polices 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.
