RADNOR, Pa.–(BUSINESS WIRE)–Subsidiaries of JGWPT Holdings, LLC have completed a joint $169.5 million securitization of notes backed by structured settlement and fixed annuity payments.
“This deal proved extremely successful from both a placement and a pricing perspective. As such, it enjoyed demand from a large, diverse and deep pool of institutional investors, including insurance companies, pension funds and money managers.”
JGWPT Holdings, LLC is the parent holding company of several consumer finance subsidiaries, most notably J.G. Wentworth and Peachtree Financial Solutions. These independent companies are two of the most well-known brands purchasing structured settlement payment streams in exchange for a lump sum of cash. This latest securitization included payment streams purchased by both of these subsidiaries.
This most recently completed $169.5 million securitization consisted of two issued classes of notes: $144 million of Class A notes rated Aaa(sf) by Moody’s Investors Service and AAA(sf) by DBRS and $14 million of Class B notes rated Baa2(sf) by Moody’s Investors Service and BBB(high) by DBRS and a Residual Class of $11.5 million which was retained by the issuer.
Deutsche Bank was the sole structuring advisor and joint book-running manager. Barclay’s was the other joint book-running manager. Jefferies and Natixis were the co-managers.
The transaction represents the 33nd securitization of structured settlement and fixed annuity backed notes by JGWPT Holdings, LLC subsidiaries and their predecessors.
According to JGWPT Chief Investment Officer Stefano Sola, “This deal proved extremely successful from both a placement and a pricing perspective. As such, it enjoyed demand from a large, diverse and deep pool of institutional investors, including insurance companies, pension funds and money managers.”
He added that the continued and predictable new issuance securitization program from the Company is seeing continued support from the institutional investor base that continues to seek stable long term assets.
David Miller, Chief Executive Officer of JGWPT said, “It’s been just over one year since the formation of JGWPT Holdings, LLC. This corporate structure has proven beneficial to customers and investors as evidenced by the fact that we’ve executed three securitization transactions totaling $617.5 million in our first year.”
About the JGWPT Holdings, LLC Family of Companies
JGWPT Holdings, LLC, based in Radnor, PA and Boynton Beach FL, through its specialty finance subsidiaries, is a leading purchaser of deferred payments from illiquid financial assets such as structured settlements and fixed annuities. Since 1992, JGWPT’s subsidiary companies and their predecessors have purchased over $8 billion of future payment obligations from consumers.
For more information about JGWPT Holdings, LLC, visit www.jgwpt.com.
JGWPT Holdings, LLC
Phil Donahue, 484-434-2452
Chief Marketing Officer