Charlotte, NC (April 24, 2013) – Commercial Credit Group Inc. (CCG) announces the closing of a 144a term asset backed security (ABS) transaction. The $194,470,000 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.
Ratings information and updates on the multi-tranched notes are available at www.standardandpoors.com and www.dbrs.com.
J. P. Morgan Securities, LLC and SunTrust Robinson Humphrey, Inc. served as Joint Bookrunners and BMO Capital Markets GKST Inc. served as Co-Manager.
“The company is pleased to have completed its third term ABS transaction. The transaction structure reflected the overall strength of CCG’s financing program as the company continued to achieve higher investment grade ratings than in our previous transactions. The placement was oversubscribed in all classes and we are looking forward to further expanding our relationships with the institutional market,” said Roger Gebhart, SVP and Chief Financial Officer.
About Commercial Credit Group Inc.:
Commercial Credit Group Inc. (CCG) is an independent commercial equipment finance and leasing company that provides secured loans and leases to small and mid-sized businesses in the construction, fleet transportation and waste industries. Our sales force, located across the United States, sources transactions through end users, equipment vendors and manufacturers with typical transaction sizes ranging from $100,000 to $2,500,000. CCG was founded in 2004, is headquartered in Charlotte, North Carolina, and operates full service offices in Buffalo, New York, and Naperville, Illinois. Since inception, CCG has originated over $1 billion of finance receivables. For more information, please visit www.commercialcreditgroup.com.