GreatAmerica Announces $637 Million Term Securitization | GreatAmerica

(Cedar Rapids IA) – GreatAmerica Financial Services Corporation announced today that it successfully closed its 22nd term securitization of $637 Million in privately placed bonds. S&P and Fitch rated 93.4% of the bonds being issued at AAA, with S&P moving to improve the A+ bond rating segment to AA-. GreatAmerica has now issued $8.7 Billion in bonds since inception.

Proceeds from the transaction will pay off debt from warehouse and revolving credit facilities, putting GreatAmerica in an even stronger liquidity position to support its equipment vendors.

“There is much effort by many GreatAmericans involved in successfully bringing a transaction like this to the market.” said GreatAmerica Executive Chairman Tony Golobic. “The consistent and dedicated focus of our GreatAmericans continues to impress the investment community and build trust among our financial partners.”

Demand was strong as investors placed orders of $1.5 Billion…more than double the amount offered. Participation was highlighted by 29 unique investors, including 6 new investors.