GreatAmerica has announced the successful closing of its $747.9-million asset-backed securitization.

The transaction is collateralized by a pool of contracts originated through GreatAmerica's commercial equipment finance business, which has a long-standing track record of consistent credit performance. The securities were issued in multiple classes, with 93.4% of the bonds rated AAA by S&P and Fitch which is unchanged from the prior eleven transactions.

The securitized pool consists of equipment leases and loans across a diversified range of industries and asset types, including office imaging, light industrial and construction equipment, franchise financing and other business-critical equipment categories. The portfolio reflects broad obligor diversification with limited concentration among individual borrowers. The transaction attracted investment participation from 45 unique investors.

"Investors had plenty of choices in this market," said Martin Golobic, CEO, GreatAmerica. “The fact that they chose GreatAmerica says a lot about the quality of our business, our portfolio and the consistency of our execution. It's also a reflection of the customers and partners who choose to do business with us every day. We've spent decades doing what we say we're going to do, and the market recognizes that."

GreatAmerica has been an active participant in the ABS market for more than 30 years, leveraging securitization as a key component of its diversified funding strategy. This transaction represents its 28th term securitization and builds on a long history of access to the capital markets.