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Source: JGWPT Holdings

JGWPT Holdings Announces $175 Million Fixed Rate Asset Backed Securitization

RADNOR, Pa., July 30, 2013 (GLOBE NEWSWIRE) -- JGWPT Holdings, LLC ("JGWPT"), the holding entity for the J. G. Wentworth and Peachtree Financial Solutions companies, today announced that it has issued $174,674,000 of Fixed Rate Asset Backed Notes through JGWPT XXIX 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.

"This represents the 36th securitization for JGWPT and its predecessors, and like our earlier ABS transaction this year, it included lottery receivables, which we will continue to utilize in future deals," said Stefano Sola, JGWPT's Chief Investment Officer. "The current market volatility and uncertainty around future rate movements continued to underline the attractiveness of our asset class to institutional investors who seek predictable and consistent returns. In fact, this was highlighted by the very strong interest and demand from investors with a quick turnaround from announcement to pricing."  

"This placement represents consistent demand for our asset-backed program," said David J. Miller, JGWPT's Chief Executive Officer. "Along with the $575 million senior secured debt placement and $216 million asset-backed securitization executed earlier this year, this transaction provides increased capital and continued access to the fixed income markets for funding purposes."

The issue consists of two classes of placed notes: $159,689,000 Class A Fixed Rate Asset Backed Notes that will pay 4.21%, and $14,985,000 Class B Fixed Rate Asset Backed Notes that will pay 5.68%. The notes will be rated AAA (DBRS) and Aaa (Moody's); and BBB (high) (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 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.

John McInerney