|
|
Peachtree Settlement Funding
Completes $100 Million Term Securitization
Boca Raton, Fla., March 31, 2005/
Peachtree Settlement Funding, a national specialty factoring company,
recently concluded its second term securitization of structured
settlement payments. SunTrust Robinson Humphrey was the placement agent
on the oversubscribed 144A debt issuance. The issue's senior tranche was
rated "AAA" by Standard & Poors and is the second
securitization of structured settlement payments in a little over a year
by Peachtree. Peachtree's Chief Executive Officer, Jim Terlizzi,
commented that "the firm expects to conduct another
securitization of structured settlements in the next few months and
anticipates that transaction to be in the $125-$130 million range. We
are very pleased with the market's acceptance of these receivables and
expect to conduct at least two such transactions per year on a going
forward basis".
Structured settlement payments are long-term payouts of personal injury
claims and may be sold to investors but only pursuant to a court order.
It is estimated that over $100 billion of structured settlement payments
are outstanding in the U.S. and that number is expected to grow.
About
Peachtree Settlement Funding
Peachtree Settlement Funding is a specialty factoring company, which
allows recipients of future cash flows to obtain an immediate lump sum
in exchange for all, or a portion of, those future sums.
Peachtree is the nations leading specialty factoring company and caters
to people seeking to sell structured legal settlements, annuity
payments, lottery prize payments, sweepstakes awards and life insurance
policies. In addition, Peachtree provides cash advances to people with
pending personal injury claims. Peachtree has purchased over $2 billion
of specialty receivables and continues to expand into new areas by
bringing institutional financing and professionalism to bear on
under-served markets. |