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CCG News - 13th Term ABS

CCG Closes $420,650,000 ABS Deal 2022-1

Posted June 22, 2022

CHARLOTTE, NC (June 21, 2022) – Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced that it has completed a $420,650,000 term asset-backed security (ABS) transaction. The securitization was CCG’s largest offering to-date and was placed with a diversified group of fixed income investors, representing 29 unique institutions. BMO Capital Markets served as Structuring Agent and Lead Bookrunner for the placement. The securitization is comprised of 5 notes which carry the following ratings:

Notes                  Moody's           Fitch              Dollar Amount

Class A-1             P-1 (sf)             F1+ (sf)           $92,500,000               

Class A-2            Aaa (sf)           AAA (sf)          $281,130,000

Class B               Aa2 (sf)            AA (sf)            $21,970,000

Class C               A2 (sf)              A (sf)              $14,270,000

Class D               A2 (sf)              A (sf)              $8,780,000

“We’re appreciative of the continued enthusiastic support that we received from the investment community in the face of a tumultuous economic backdrop.” stated Paul Bottiglio, CCG’s SVP and CFO. “This transaction helps to further diversify our funding sources, as we continue to serve our middle market customers.”

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

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