RADNOR, Pa.--(BUSINESS WIRE)--JGWPT Holdings, LLC (“JGWPT”), the holding entity for Peachtree Financial Solutions, announces the firm’s first combined lottery, annuity, guaranteed structured settlement securitization. These receivables were combined for the first time in JGWPT XXVIII LLC’s recently completed issuance of $216,689,000 of Fixed Rate Asset Backed Notes.
“Using lottery receivables in a securitization is a noteworthy first for our business, which has raised more than $800 million in lottery-related transactions over the years,” said Paul Benk, Manager of Peachtree’s lottery business. “We will continue to include lottery receivables in future offerings.”
“Lottery receivables will continue to be a key part of our business,” said David J. Miller, JGWPT’s Chief Executive Officer. “They’re generally backed by highly rated collateral and represent another source of secure, stable receivables for the JGWPT securitization platform.”
The issue including the lottery receivables consists of two classes of placed notes: $198,100,000 Class A Fixed Rate Asset Backed Notes, that will pay 3.22%, and $18,589,000 Class B Fixed Rate Asset Backed Notes that will pay 4.94%. The notes are rated AAA (DBRS) and Aaa (Moody’s); and BBB (DBRS) and Baa2 (Moody’s) respectively.
Deutsche Bank Securities was the sole structuring advisor and was joined by Barclays as joint book-running manager. Natixis acted as co-manager.
About the JGWPT Holdings, LLC Family of Companies
Based in Radnor, PA, with offices in Boynton Beach, FL, JGWPT, through its subsidiaries including J.G. Wentworth and Peachtree Financial Solutions, is a leading purchaser of deferred payments from illiquid financial assets such as structured settlements, fixed annuities and lottery receivables. 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.