Company Website:
http://www.jgwpt.com/
RADNOR, Pa. -- (Business Wire)
JGWPT Holdings Inc. (“JGWPT”) (NYSE:JGW) today announced that it has
issued, through JGWPT XXXII LLC, $227,564,000 of Fixed Rate Asset Backed
Notes. The notes will primarily be collateralized by payments from a
pool of rights arising under court ordered structured settlement payment
purchase contracts, court ordered lottery payment purchase contracts and
annuity contracts primarily originated by the J.G. Wentworth and
Peachtree Financial Solutions companies.
“This represents the 39th securitization for JGWPT and its
predecessors, and we are pleased with the execution and strong market
demand for both classes of our bonds,” said John Schwab, JGWPT’s
Executive Vice President and Chief Financial Officer.
The issue consists of two classes of placed notes: $202,280,000 Class A
Fixed Rate Asset Backed Notes that will pay 3.61%, and $25,284,000 Class
B Fixed Rate Asset Backed Notes that will pay 4.48%. The notes will be
rated AAA (DBRS) and Aaa (Moody’s); and BBB (low) (DBRS) and Baa2
(Moody’s), respectively.
“This placement demonstrates the continued robust demand for our
asset-backed program,” said David J. Miller, JGWPT’s Chief Executive
Officer. “If these market conditions continue, we expect to complete one
additional securitization this year.”
Credit Suisse was the sole structuring advisor and was joined by
Barclays as joint book-running manager. Deutsche Bank Securities and
Natixis acted as co-managers.
This release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of securities in any
State in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
State.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking
statements.” Statements preceded by, followed by or that otherwise
include the words “plans”, “expects”, “does expect,” “budget,”
“forecasts,” “anticipates”, or “does not anticipate,” “believes,”
“intends”, “projects”, and “estimates” and similar expressions or future
or conditional verbs such as “would,” “might,” “will”, “should”, “may”
and “could” are generally forward-looking in nature and not historical
facts. Any statements that refer to expectations or other
characterizations of future events, circumstances or results are
forward-looking statements.
Consideration should be given to the areas of risk set forth under the
heading “Risk Factors” in our filings with the Security and Exchange
Commission (the “SEC”), including our registration statement on Form S-1
for our initial public offering, as filed with and declared effective by
the SEC on November 8, 2013, and in our other filings made from time to
time, in connection with considering any forward-looking statements that
may be made by us and our business generally. Except for our ongoing
obligations to disclose material information under the federal
securities laws, we undertake no obligation to release publicly any
revisions to any forward-looking statements, to report events or to
report the occurrence of unanticipated events unless we are required to
do so by law.
About JGWPT Holdings Inc.
JGWPT focuses on key sectors, including structured settlement payment
purchasing, annuity payment purchasing, lottery payment purchasing and
pre-settlement funding. Through our two market-leading and
highly-recognizable brands, J.G. Wentworth and Peachtree Financial
Solutions, we purchase future structured settlement payment streams from
our customers.
For more information about JGWPT, visit www.jgwpt.com or
use the information provided below.
Contacts:
Investor Relations:
JGWPT Holdings Inc.
866-386-3853
investor@jgwpt.com
or
Media
Inquiries:
Makovsky
John McInerney, 212-508-9628
jmcinerney@makovsky.com
Source: JGWPT Holdings Inc.
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