Underwriter DZ Financial Markets recently completed a $71 million term securitization for Settlement Capital Corp., marking this as the first term securitization executed by DZ Bank's U.S. subsidiary, said Dominick Ruggiero, vice president of the asset securitization group at DZ Financial.

The five-year transaction, named SetCap Structured Settlement Trust, carries a 4.57% coupon, approximately 15 basis points inside of the most recent comparable settlement offering, according to Ruggiero. The single-tranche senior notes received a triple-A rating from both Moody's Investors Service and Standard & Poor's, due to a wrap from MBIA, and was placed with three institutions.

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