GreatAmerica Financial Services completed its 14th term securitization in the amount of $452.6 million, 93% of which was rated AAA or higher. The total amount of GreatAmerica inception-to-date bond issuances is approximately $4.2 billion. The proceeds will pay off various borrowed amounts, resulting in unused credit facilities in the amount of $872 million to support future GreatAmerica growth.

The placement agents of the notes were BofA Merrill Lynch and Wells Fargo Securities, with SunTrust Robinson Humphrey and BMO Capital Markets acting as co-managers. Investor demand for this transaction was high, resulting in more than double the amount of orders for the notes. There were 31 institutional investors participating in this year’s transaction, of which seven were first-time GreatAmerica investors.

“We are pleased with the results of this term transaction, especially with the strong ratings from Fitch and Standard and Poor’s,” said GreatAmerica chairman and CEO Tony Golobic. “This is an endorsement of our determination to stay true to our prudent business model and be a consistent provider to our channel partners, regardless of fluctuations in the economy.”