Commercial Credit Group Closes Seventh Term ABS Transaction
JUN 15, 2017 - 7:18 am
Commercial Credit Group closed a 144a privately-placed term asset-backed security transaction. The $259,707,000 financing was placed with a broad group of institutional investors. The financing contracts supporting the security consist of a diverse pool of CCG’s customer contract originations. The multi-tranche placement carried the following ratings:
“The company is pleased to have completed its seventh term ABS transaction. The transaction structure reflects the significant strength of CCG’s ABS financing program and underlying asset performance. The placement received significant demand in all classes. We look forward to further expanding our relationships with the institutional market,” said Roger Gebhart, SVP and CFO of CCG.
CCG is a wholly owned subsidiary of Commercial Credit and an independent, commercial equipment finance company that provides secured loans and leases to small and mid-sized businesses in the construction, fleet transportation, machine tool and manufacturing and waste industries.
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