Charlotte, NC (February 28, 2012) – Commercial Credit Group Inc. (CCG) announces the closing of a direct, privately placed term asset backed security (ABS) transaction. The $105,000,000 amortizing term ABS was placed with a broad group of institutional investors. The financing contracts included in the security consist of a diversified pool of CCG’s overall contract originations. The debt is investment grade rated by DBRS, Inc. and Wells Fargo Securities, LLC served as the structuring advisor and placement agent on the transaction.
“The company is pleased to have completed its second term ABS transaction, and to have achieved a higher investment grade rating than in our first transaction. CCG is happy to finalize this over-subscribed transaction as we look to develop new relationships and expand our existing relationships with the institutional investment market,” said Roger Gebhart, VP and Treasurer.
About Commercial Credit Group Inc.
CCG is a national independent commercial equipment finance and leasing company focused on purchase money and refinance transactions in the construction, fleet transportation and waste industries. We source our transactions through end users, equipment vendors and manufacturers. Our typical transaction size ranges from $100,000 to $2,500,000. Headquartered in Charlotte, North Carolina, CCG also has a full-service office in Naperville, Illinois. Our experienced sales team operates throughout the United States. For more information, visit www.commercialcreditgroup.com.