Commercial Credit closes $75M notes offering
The unsecured notes mature in August 2030
Independent commercial equipment financier Commercial Credit Inc. closed a $75 million unsecured notes offering.
The investment-grade notes were placed with a range of institutional fixed income investors, with Piper Sandler & Co. serving as sole placement agent, according to an Aug. 14 release. CCI’s private placement of senior unsecured notes matures in August 2030.
CCI intends to use the proceeds of the offering to retire a senior note issued by its parent company, Commercial Credit Group, in 2021, according to the release. With the move, CCI aims to optimize the company’s capital structure and further extend its maturity profile.
Headquartered in Charlotte, N.C., CCI provides equipment loans, leases and accounts receivable factoring through subsidiaries serving industries including construction, transportation, manufacturing and waste. It operates offices in New York, Illinois, Ontario, Utah and Connecticut.
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