Commercial Credit Group Closes $327.821MM Term ABS

Commercial Credit Group, an independent commercial equipment finance company, closed a 144a privately-placed term asset-backed security (ABS) transaction (the 2021-1 transaction). The $327.821 million financing was placed with a group of fixed income investors, representing 23 unique institutions. Wells Fargo Securities served as structuring agent and lead bookrunner for the placement. The financing contracts supporting the security consist of a pool of CCG’s customer contract originations in the construction, fleet transportation, manufacturing and waste equipment industries. The multi-tranche placement carries the following ratings:

Notes Moody’s Fitch DBRS  Dollar Amount
Class A-1 P-1 (sf) F1+ (sf) R-1 (high) (sf) $74.7 million
Class A-2 Aaa (sf) AAA (sf) AAA (sf) $221.18 million
Class B Aa2 (sf) AA (sf) AA (sf) $16.811 million
Class C A2 (sf) A (sf) A (sf) $15.13 million

“CCG is pleased to have completed its 13th term ABS transaction since 2011. We are appreciative of the continued support of the institutional ABS investor community. Over a very busy period of ABS issuance, our 2021-1 transaction received significant oversubscription in each class and we also welcomed a number of new investors to our platform” Paul Bottiglio, vice president and treasurer of Commercial Credit Group, said. “The composition of the contracts included in this transaction reflect the industry, equipment and geographic diversity from which CCG’s portfolio benefits.”

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.