Commercial Credit Group Closes $251.7MM Term ABS

Commercial Credit Group, an independent commercial equipment finance company, closed a 144a privately-placed term asset-backed security transaction.

The $251.673 million financing was placed with a broad group of institutional investors. BMO Capital Markets 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 transportation, construction, manufacturing and waste equipment segments. The multi-tranche placement carried the following ratings:

Notes   S&P  Fitch     Dollar Amount
Class A-1 A-1+ (sf) F1+ (sf) $61 million
Class A-2 AAA (sf) AAA (sf) $158.07 million
Class B A (sf) A (sf) $25.773 million
Class C BBB+ (sf) BBB (sf) $6.83 million


“This is our ninth transaction since 2011, and our offerings total approximately $1.9 billion. We are appreciative of the continued support of the institutional ABS investor community. Our 2018-2 transaction received significant oversubscription in all classes and we are pleased to have several new investors in this placement,” said Roger Gebhart, senior vice president and CFO. “The composition of the contracts included in this transaction reflect the industry and equipment diversity CCG benefits from, in the segments we serve, including the growing segment of machine tool and manufacturing equipment originated through Manufacturers Capital.”

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