GreatAmerica is a regular issuer of bonds on the asset-backed securities market with more than $5.1 billion in inception-to-date placements. A record 39 investors participated, 10 of which were first-time buyers of GreatAmerica transactions. There were $2.5 billion in orders for $493.2 million in bonds.
“We had strong demand for our bonds with orders for more than 5 times the amount we offered,” said GreatAmerica CEO and Chairman Tony Golobic. “As we expand our business, it’s fitting that we also expand the number and diversity of investors in GreatAmerica paper.”
Reporting agencies listed 93% of the bonds at an AAA rating, the rationale being, among other things, strong historical performance of a portfolio consisting of direct originations rather than large portfolio purchases.
According to S&P Global’s Presale Report, “GreatAmerica is distinct from many other small-ticket leasing companies in that, despite the recession, the company continued to grow its portfolio while maintaining its losses and delinquencies at relatively low and historically consistent levels.”
Monitor Suite members can download a copy of the 2023 Monitor 100 charts in PDF or Excel form here. This year’s Monitor 100 companies reported net assets of $555.9 billion, new business volume of $216.6 billion and 26,609 employees. The... read more
Whether it’s equipment finance or comedy writing, diversity of thought and diversity of input help us to connect the dots in new and interesting ways. Unconventional ideas can lead to breakthrough thinking and tangible value creation. Now, more than ever,... read more