Commercial Credit Group Inc. Closes $317,122,000 Term ABS (2019-2)

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Charlotte-based equipment finance company closes eleventh asset-backed security transaction, bringing total offerings to nearly $2.5 billion.

Commercial Credit Group equipment financing logo
This is CCG’s eleventh transaction since 2011 with offerings now totaling nearly $2.5 billion. The oversubscription in all classes reflects the diversity of the underlying assets, our attention to credit quality, and the strength of our risk management systems.

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 2019-2 transaction). The $317,122,000 financing was placed with a broad group of fixed income investors, representing 23 unique institutions. JP Morgan Securities LLC served as Structuring Agent and Lead Bookrunner for the placement. 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. The multi-tranche placement carried the following ratings:

Notes - S&P - Fitch - Dollar Amount
Class A-1 - A-1+ (sf) - F1+ (sf) - $84,000,000        
Class A-2 - AAA (sf) - AAA (sf) - $196,100,000
Class B - A (sf) - AAA (sf) - $28,903,000
Class C - BBB+ (sf) - BBB+ (sf) - $8,119,000

“This is CCG’s eleventh transaction since 2011 with offerings now totaling nearly $2.5 billion. The oversubscription in all classes reflects the diversity of the underlying assets, our attention to credit quality, and the strength of our risk management systems,” stated Paul Bottiglio, Vice President and Treasurer. “We are appreciative of the continued support from the ABS investor community and are pleased to welcome several new investors to this transaction.”

About Commercial Credit Group Inc.:
Commercial Credit Group Inc., a wholly owned subsidiary of Commercial Credit, Inc. is an independent, commercial equipment finance company that provides secured loans and leases to small and mid-sized businesses in the construction, fleet transportation, machine tool and manufacturing and waste industries. The company’s sales force is located throughout North America and sources transactions through end-users, equipment vendors and manufacturers with typical transaction sizes ranging from $100,000 to $2,500,000. Since its inception in 2004, CCG has originated over $4.5 billion of finance receivables. CCG is headquartered in Charlotte, NC and operates full service offices in Buffalo, NY and Naperville, IL. CCG Equipment Finance Limited services the Canadian Provinces of Ontario, west to British Columbia, from its Canadian headquarters in Hamilton, Ontario. Division Manufacturers Capital provides financing for the manufacturing and fabricating industries. For more information, please visit http://www.commercialcreditgroup.com.

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