BHG Financial closes $300M asset-backed securities offering

Medical finance company BHG Financial issued $300 million in asset-backed securities, which are backed by commercial and consumer loans.

Credit Suisse Securities (USA) LLC acted as the sole structuring agent on the transaction and as joint bookrunner alongside BMO Capital Markets Corp. BHG 2022-B was the first BHG Financial-sponsored deal to feature a prefunding account, permitting up to 25% of additional loans to be securitized during a three-month period, subject to eligibility criteria and concentration limits.