.G. Wentworth Completes $252 Million Securitization of Structured Settlement Backed Notes

BRYN MAWR, Pa., Apr 23, 2010 (BUSINESS WIRE) -- Specialty finance company J.G. Wentworth has completed a $252 million securitization of structured settlement and annuity backed receivables. J.G. Wentworth was the first to structure and securitize structured settlements in the asset-backed markets in 1997. Since then, the company has issued 20 securitizations backed by structured settlements and annuities receivables totaling over $2.3 billion.
The most recently completed securitization consisted of two issued classes of notes: $208 million of Class A notes rated AAA by Moody's and $26.5 million of Class B notes rated A2 by Moody's. A Residual Class of $17.2 million was retained by the Company. Deutsche Bank was the sole lead manager and bookrunner of the offering.
According to J.G. Wentworth Chief Investment Officer Stefano Sola, "This latest securitization was the largest for J.G. Wentworth, and we believe, the largest-to-date in the structured settlement industry. This transaction established a new, more liquid benchmark in the asset backed market which was underlined by strong investor demand from insurance companies, money managers and hedge funds."
According to J.G. Wentworth Chief Executive Officer David Miller, the strong demand, combined with the size of the deal, indicates the return of liquidity and growing strength of this asset class within the broader asset backed market. "Investors are keen to participate in offerings where the product has strong, predictable cashflows, no prepayment risk and a track record of strong performance," Mr. Miller said.
About the J.G. Wentworth family of companies
J.G. Wentworth, LLC, based in Bryn Mawr, PA, is the nation's largest buyer of deferred payments for illiquid financial assets such as structured settlements and fixed annuities. Since 1992, J.G. Wentworth has purchased over $4 billion of future payment obligations from consumers and is also the nation's largest securitizer of structured settlement and annuity-backed notes.
For more information about J.G. Wentworth, visit www.jgwentworth.com.
SOURCE: J.G. Wentworth, LLC

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