Commercial Credit Group, an independent commercial equipment finance company, closed a private placement of $75 million aggregate principal amount of senior unsecured notes.
Commercial Credit and BDT Capital Partners closed the their previously announced equity investment. The transaction will give BDT a majority equity stake in one of the largest independent commercial finance companies in the U.S.
National provider of invoice factoring and A/R financing Transfac Capital changed its name to Commercial Funding. The change included the launch of a new website.
Commercial Credit, parent company of Commercial Credit Group, purchased the business operations of Transfac Capital and will expand into the accounts receivable factoring business.
Commercial Credit Group said it closed two new revolvers totaling $180 million. JPMorgan Chase provided a $100 million asset-backed commercial paper facility, and BMO Harris agented an $80 million facility.