GreatAmerica Announces 16th Term Securitization

posted by Matt Doty on Tuesday, February 21, 2017

GreatAmerica Announces 16th Term Securitization

(Cedar Rapids, IA) – GreatAmerica Financial Services Corporation announced today the completion of its 16th term securitization of $493.2M of privately placed bonds with institutional investors. The proceeds will support the organic growth GreatAmerica has enjoyed since its inception in 1992. 

GreatAmerica is a regular issuer of bonds on the asset-backed securities market with more than $5.1 billion in inception-to-date placements.  A record 39 investors participated,10 of whom were first-time buyers of GreatAmerica transactions. There were $2.5B in orders for $493.2M in bonds.

“We had strong demand for our bonds with orders for more than 5 times the amount we offered,” said GreatAmerica CEO and Chairman Tony Golobic. “As we expand our business, it’s fitting that we also expand the number and diversity of investors in GreatAmerica paper.”

Reporting agencies listed 93% of the bonds at a AAA rating, the rationale being, among other things, strong historical performance of a portfolio consisting of direct originations rather than large portfolio purchases. 

According to S&P Global’s Presale Report, “GreatAmerica is distinct from many other small-ticket leasing companies in that, despite the recession, the company continued to grow its portfolio while maintaining its losses and delinquencies at relatively low and historically consistent levels.”

About GreatAmerica
GreatAmerica is the largest independent small ticket national commercial equipment finance company in the U.S. and is dedicated to helping manufacturers, vendors, and dealers be more successful and keep their customers for a lifetime. GreatAmerica was established in Cedar Rapids, Iowa in 1992 and today is organized into seven business units. It has a staff of over 500 employees with offices in Georgia, Minnesota, and Missouri. We also offer innovative non-financial services to help our customers evolve their businesses.

For additional information, please visit the GreatAmerica corporate website: www.greatamerica.com

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Contact: Matt Doty, VP Corporate Communications | mdoty@greatamerica.com | 319.261.4188

About The Author

Matt Doty, GreatAmerica Vice President Corporate Communications, is responsible for maintaining image execution and brand continuity throughout the company. This includes written and verbal communications with internal and external audiences and overall strategic and tactical marketing activities ... read more

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