Commercial Credit Group Closes $319.395MM Term ABS

Commercial Credit Group, an independent commercial equipment finance company, closed a 144a privately-placed term asset-backed security (ABS) transaction. The $319.395 million financing was placed with a group of fixed income investors, representing 24 unique institutions.

J.P. Morgan Securities served as structuring agent and lead bookrunner for the placement. The multi-tranche placement carried the following ratings:

Notes Moody’s S&P Amount
Class A-1 P-1 (sf) A-1+ (sf) $71 million
Class A-2 Aaa (sf) AAA (sf) $217.275 million
Class B Aa2 (sf) AA (sf) $16.379 million
Class C A2 (sf) A (sf) $14.741 million

“Once again we received significant oversubscription in each class and welcomed a number of new investors to our platform” Paul Bottiglio, senior vice president and CFO of Commercial Credit Group, said. “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 pool of Commercial Credit Group’s customer contract originations in the construction, fleet transportation, manufacturing and waste equipment industries.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.