Commercial Credit Group closed a 144a privately placed term asset-backed security transaction valued at roughly $310 million.

The financing was placed with a broad group of institutional investors and the contracts included in the security consist of a diversified pool of CCG’s contract originations.

J. P. Morgan Securities and Wells Fargo Securities served as joint bookrunners, and SunTrust Robinson Humphrey served as co-manager for the financing.

“[CCG] is pleased to have completed its fifth annual term ABS transaction. The transaction structure reflects the significant strength of CCG’s ABS financing program and underlying asset performance,” said Roger Gebhart, SVP and CFO of Commercial Credit Group. “The placement was oversubscribed in all classes and was very well received despite turbulent and uncertain market conditions. We look forward to further expanding our relationships with the institutional market.”