Charlotte-based equipment finance company closes seventeenth asset-backed security transaction.
CHARLOTTE, NC (November 14, 2023) – Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, today announced that it has finalized a $427,538,000 term asset-backed security (ABS) transaction. The securitization was placed with a diversified group of fixed-income investors from 32 unique institutions. Wells Fargo Securities, LLC. served as Structuring Agent and Lead Bookrunner for the placement.
The securitization is comprised of CCG's finance originations in the construction, fleet transportation, manufacturing and waste equipment industries and is comprised of five classes of notes which carry the following ratings:
| Notes | S&P | Moody's | Dollar Amount |
| Class A-1 | A-1+ | P-1 | $94,600,000 |
| Class A-2 | AAA | Aaa | $277,047,000 |
| Class B | AA | Aa2 | $21,822,000 |
| Class C | A | A1 |
$16,033,000 |
| Class D | BBB+ | Baa2 |
$18,036,000 |
“This is CCG's second securitization of the year, and our largest transaction to-date. We're delighted with the positive reception of this offering and grateful for the ongoing support from the institutional ABS investor community,” stated Paul Bottiglio, CCG’s SVP, and CFO. “This transaction further enables us to assist our middle-market customers in the financing of their mission-critical equipment.”