Patrons' Legacy has quietly priced its sixth securitization of a pool backed by life insurance policies and life annuities. All of these transactions - dubbed LILACs - have been privately placed via UBS.

The $140 million transaction matures in 2064 and was rated Aa3' by Moody's Investors Service. The rating is linked primarily to the lowest of the of the ratings of Axa Equitable Life Insurance, American International Specialty Lines Insurance (AISLIC) and Protective Life Insurance, the three insurance providers participating in the transaction, according to a Moody's report.

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