Manufacturing-Equipment Finance Company Closes Security Transaction Worth $319 Million

CCG (Charlotte, NC) is an independent, commercial finance company that provides equipment loans and leases to small and mid-sized businesses in several major industries, including the machine tool and manufacturing industries.

This was the 14th ABS transaction closed by CCG. The financing was placed with a broad group of fixed-income investors, representing 24 unique institutions. JP Morgan Securities LLC served as the structuring agent and lead bookrunner for the placement. The multi-tranche placement carried the following ratings:

Notes             Moody’s          S & P              Dollar Amount
Class A-1          P-1 (sf)             A-1+ (sf)            $71,000,000
Class A-2          Aaa (sf)            AAA (sf)           $217,275,000
Class B             Aa2 (sf)            AA (sf)                $16,379,000
Class C             A2 (sf)               A (sf)                  $14,741,000

“Once again, we received significant oversubscription in each class and welcomed a number of new investors to our platform,” said Paul Bottiglio, SVP and CFO. “The continued support of the investment community is a reflection of the strength of our portfolio, the historical performance of our previous securitizations, and the company’s consistent underwriting policies and procedures.”

The financing contracts supporting the security consist of a diverse pool of CCG’s customer contract originations in the construction, fleet transportation, manufacturing, and waste equipment industries.

www.commercialcreditgroup.com