Commercial Credit Group Inc. (CCG), an independent commercial equipment finance company, announced it has finalized a $427,538,000 term asset-backed security (ABS) transaction (CCGR Trust 2023-2). 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 supported by 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," said Paul Bottiglio, CCG’s Senior Vice President and CFO. “This transaction further enables us to assist our middle-market customers in the financing of their mission-critical equipment.”