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March 30, 2023

BHG Financial Completes First ABS Transaction of 2023, Closes Over $265M in ABS Notes

Ft. Lauderdale, FL—BHG Financial (BHG) today announces the issuance of approximately $265 million in ABS notes backed by high-quality commercial and consumer loans. This marks BHG’s first ABS transaction completed in the calendar year 2023 and the seventh since the start of its securitization program in 2020. 

Kroll Bond Rating Agency, LLC (“KBRA”) and Fitch Ratings, Inc. (“Fitch”) have both assigned a ‘AAA (sf)’ rating on the Class A Notes of BHG 2023-A, consistent with the ratings on BHG Financials’ preceding transaction, BHG 2022-C, which closed in September of last year.

“Our seventh transaction brings several new investors, showing the strength of our offering. We are pleased to have executed our latest ABS deal during challenging times,” says Al Crawford Chairman/CEO and Co-founder of BHG Financial.  

Truist Securities, Inc. (“Truist”) acted as the sole structuring agent on the transaction and as joint bookrunner alongside BMO Capital Markets Corp. and Goldman Sachs & Co. LLC (“Goldman Sachs”). Co-managers on the transaction included FHN Financial Securities Corp., Regions Securities LLC and Wedbush Securities Inc.

The addition of Truist and Goldman Sachs as underwriters on the latest transaction exemplifies BHG’s continued focus on establishing a well-diversified network of investment banking and underwriting partners. 

“We were certainly pleased with our execution, given the bank events that transpired on March 10th and the days that followed. Although the recent market volatility has made issuance timing a real consideration, we continue to be happy with investor demand and appreciate the support of the BHG platform,” says Dan McSherry, Chief Financial Officer at BHG Financial. 

About BHG Financial 

BHG Financial is transforming the financial industry, leveraging the power of data, analytics, and cutting-edge technology to become one of the best sources for high-performing loans, and the creator of one of the largest community bank loan and product networks in the country. 

Since 2001, BHG has originated more than $15 billion in loan solutions to top-quality borrowers, which community and midsize banks can access via a state-of-the-art loan delivery platform. 

BHG Financials' dedication to providing services that meet the needs of its clients has led to the creation of a full family of brands that range from business, consumer, and SBA 7(a) loans to credit cards, risk management services, and point-of-sale financing. 

With record growth year after year, BHG continues to be recognized regionally and nationally, earning a spot on the Inc. 5000 list 16 times and receiving accolades from Great Place to Work® and Fortune magazine, among others. 

BHG Financial is partially owned by Pinnacle Bank (PNFP) and has headquarters in Davie, FL and Syracuse, NY. To represent the company’s growth and dedication to continuously expanding their services, Bankers Healthcare Group became BHG Financial in 2021. 

Find out more about the company's financial solutions at https://bhgfinancial.com/. For more information about the BHG Bank Network, click here. Follow BHG on LinkedIn, Facebook, Instagram, and Twitter.