.
The Lessors Network
An Equipment Finance News & Media Network
.
Lessors Network Shadow
.
Lessors Network Header
.
Lessors Network Logo

The Lessors Network is an equipment finance news & media network designed to raise awareness and promote enterprise growth by publishing and distributing Breaking News, Press Releases, Legislative & Regulatory Updates and Event Announcements relevant to the largest equipment lease finance community on the Web.


LinkedIn
Over 1,682 Global Members
.
.
Lessors Network Ad
Summit Funding

Summit Funding Group, Inc., working with companies of all sizes and most industries, has amassed a high performing portfolio in excess of $1.5 billion in equipment lease and finance originations.

Contact: Richard Ross - 513.489.1222
.


Breaking News
Arrow  Email Alert Subscription     Arrow  Publishing Network
Lessors Network Shadow
.
Lessors Network News

Commercial Credit Group Inc. Closes $259,707,000 Term Asset-Backed Security

.

Commercial Credit Group Inc. (CCG), a leading independent commercial equipment finance company, today announced the closing of a 144a privately-placed term asset-backed security (ABS) 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:

Notes ----------- S&P ------------ Fitch --------------- WAL ----------- Dollar Amount

Class A-1 ----- A-1+ (sf) ----- F-1+ (sf) ----------- .35 years ------- $ 78,100,000
Class A-2 ----- AAA (sf) -----AAA (sf)    ----------- 1.72 years ------- $152,352,000
Class B -------- A (sf) --------- A (sf) ------------ 2.83 years ------- $ 24,202,000
Class C -------- BBB+ (sf) ---- BBB (sf) --------- 2.83 years ------ $    5,053,000

Wells Fargo Securities and J.P. Morgan Securities served as the Joint Bookrunners and SunTrust Robinson Humphrey served as Co-Manager.

“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,” stated Roger Gebhart, SVP and Chief Financial Officer.

About Commercial Credit Group Inc.:
Commercial Credit Group Inc., a wholly owned subsidiary of Commercial Credit, Inc. is 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. The company’s sales force is located throughout North America and sources transactions through end-users, equipment vendors and manufacturers with typical transaction sizes ranging from $100,000 to $2,500,000. Since its inception in 2004, CCG has originated approximately $3.0 billion of finance receivables. CCG is headquartered in Charlotte, NC and operates full service offices in Buffalo, NY and Naperville, IL. CCG Equipment Finance Limited services the Canadian Provinces of Ontario, west to British Columbia, from its Canadian headquarters in Hamilton, Ontario. Division Manufacturers Capital provides financing for the manufacturing and fabricating industries. For more information, please visit http://www.commercialcreditgroup.com and http://www.mfrscapital.com.

.

  Free Headlines In Your Inbox

Email Alerts
Every day we send out free Email Alerts with the most important
headlines of the last 24 hours (excluding slow news days).
.
.
 Blue Arrow


Blue Arrow   Return To Breaking News...
.


A Lessors.com, Inc. Company     © Copyright 1998 - 2017
.