RADNOR, Pa.--(EON: Enhanced Online News)--JGWPT Holdings, LLC (“JGWPT”), the holding entity for the J. G. Wentworth and Peachtree Financial Solutions companies, today announced that it has issued $212,714,000 of Fixed Rate Asset Backed Notes through JGWPT XXX LLC. The notes will primarily be collateralized by payments from a pool of rights arising under court ordered structured settlement purchase contracts, court ordered lottery purchase contracts and annuity contracts.
“Along with the $575 million senior secured debt placement and $390 million asset-backed securitizations executed earlier this year, this transaction provides increased capital and continued access to the fixed income markets for our funding.”
“This represents the 37th securitization for JGWPT and its predecessors, and like our earlier ABS transactions this year, it included lottery receivables, which we will continue to utilize in future transactions,” said Stefano Sola, JGWPT’s Executive Vice President and Chief Investment Officer. “The current market volatility surrounding interest rates and the U.S. Government shutdown underlines the attractiveness of our asset class to institutional investors who seek predictable and consistent returns. We saw strong demand from institutional investors for our bonds and managed to announce and price this deal within a 36-hour window.”
“This placement demonstrates consistent demand for our asset-backed program,” said David J. Miller, JGWPT’s Chief Executive Officer, Chairman and Director. “Along with the $575 million senior secured debt placement and $390 million asset-backed securitizations executed earlier this year, this transaction provides increased capital and continued access to the fixed income markets for our funding.”
The issue consists of two classes of placed notes: $194,466,000 Class A Fixed Rate Asset Backed Notes that will pay 4.08%, and $18,248,000 Class B Fixed Rate Asset Backed Notes that will pay 5.54%. The notes will be rated AAA (DBRS) and Aaa (Moody’s); and BBB (DBRS) and Baa2 (Moody’s), respectively.
Barclays was the sole structuring advisor and was joined by Deutsche Bank Securities as joint book-running manager. Natixis acted as co-manager.
About the JGWPT Holdings, LLC Family of Companies
Based in Radnor, PA, JGWPT, through its subsidiaries, is a leading purchaser of deferred payments from illiquid financial assets such as structured settlements and fixed annuities. Since 1995, JGWPT’s subsidiary companies and their predecessors have purchased over $9.1 billion of future payment obligations from consumers.
For more information about JGWPT Holdings, LLC, visit www.jgwpt.com.