Specialty finance company J.G. Wentworth completed a $252 million securitization backed by structured settlement and annuity backed receivables.
The deal consisted of two issued classes of notes: $208 million of Class A notes rated 'Aaa' by Moody’s Investors Service and $26.5 million of Class B notes rated 'A2' by Moody’s. A residual class worth $17.2 million was retained by the firm. Deutsche Bank was the sole lead manager and bookrunner of the transaction.
Details on the transaction are available via the link below from the ASR Scorecard database.
“This latest securitization was the largest for J.G. Wentworth, and we believe, the largest-to-date in the structured settlement industry," J.G. Wentworth Chief Investment Officer Stefano Sola said. "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.”
J.G. Wentworth was the first to structure and securitize ABS structured settlements back in 1997. Since then,it has issued 20 securitizations backed by structured settlements as well as annuities receivables totaling over $2.3 billion.