BOYNTON BEACH, Fla. –(Business Wire)– Peach Holdings, Inc. (“Peachtree”) announces that it has closed on a credit facility of $950 million for the acquisition of life settlement assets. James Terlizzi, Peachtree’s CEO said, “We are delighted that we have been able to conclude this transaction and are eager to continue the acceleration of our life settlement business. The markets appear to be recognizing the uncorrelated, high credit quality nature of these assets. Given the substantial issues facing world financial markets it is especially satisfying to have closed on this nearly $1 billion facility.”
Ernest Jordan, the head of Peachtree’s Life Finance department stated, “This facility will allow us to accelerate our pace of originations and focus on building our distribution engine. Peachtree’s Capital Markets Group has done an outstanding job of delivering the fuel for our growth.”
Peach Holdings, Inc., a Florida corporation, is the parent (holding) company of the Peach group of companies, including, among others, Peachtree Settlement Funding, Peachtree Pre-Settlement Funding and Peachtree LBP Finance Company (together, “Peachtree”). Peachtree is a specialty factoring company that purchases high-quality deferred payment obligations. Through its group of affiliated companies, Peachtree caters to people seeking to sell structured settlements payments, annuity payments, lottery prize payments, sweepstakes awards and sports contract payments. In addition, Peachtree provides cash advances to people with pending personal injury claims. Peachtree has purchased over $4 billion of specialty receivables and continues to expand into new areas by bringing institutional financing and professionalism to bear on underserved markets. For further information contact Dori Erann at 866-730-4418. Peachtree’s corporate website address is www.peachholdings.com.
Peach Holdings, Inc., Boynton Beach
Dori Erann, 866-730-4418
Copyright Business Wire 2008