CHARLOTTE, N.C., Oct. 20, 2021 /PRNewswire-PRWeb/ -- 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, SVP 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 policies 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.
About Commercial Credit Group Inc.:
Commercial Credit Group Inc. a wholly owned subsidiary of Commercial Credit, Inc. is an independent commercial finance company that provides equipment 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. 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. For more information, please visit http://www.commercialcreditgroup.com.
Media Contact
Julie Murphy, Commercial Credit Group Inc., 704-944-2771, [email protected]
SOURCE Commercial Credit Group Inc.
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