Commercial Credit Group finalized a $427.538 million term asset-backed security (ABS) transaction. The securitization was placed with a group of fixed income investors from 32 unique institutions. Wells Fargo Securities served as structuring agent and lead bookrunner for the placement.
The securitization is supported by Commercial Credit Group’s finance originations in the construction, fleet transportation, manufacturing and waste equipment industries, and is comprised of five classes of notes which carry the following ratings:
“This is CCG’s second securitization of the year and our largest transaction to-date. We’re delighted with the positive reception of this offering and grateful for the ongoing support from the institutional ABS investor community,” Paul Bottiglio, senior vice president and CFO of Commercial Credit Group, said. “This transaction further enables us to assist our middle-market customers in the financing of their mission-critical equipment.”
