UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 23, 2014 (July 23, 2014)
JGWPT HOLDINGS INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-36170 |
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46-3037859 |
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(State or other jurisdiction of |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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201 King of Prussia Road, Suite 501, Radnor, |
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19087-5148 |
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(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code (484) 434-2300
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On July 23, 2014, JGWPT Holdings Inc. issued a press release announcing the closing of its 2014-2 Securitization, which is a $227,564,000 securitization of notes backed by structured settlement, annuity and lottery payments. A copy of the related press release is filed herewith as Exhibit 99.1 and is incorporated into this Current Report on Form 8-K by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. |
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Description |
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99.1 |
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Press Release, dated July 23, 2014, issued by JGWPT Holdings Inc. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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JGWPT HOLDINGS INC. | ||
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By: |
/s/ Stephen A. Kirkwood | |
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Name: |
Stephen A. Kirkwood |
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Title: |
Executive Vice President & General Counsel |
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Dated: July 23, 2014 | ||
Exhibit 99.1
JGWPT Holdings Announces $227.6 Million Fixed Rate Asset Backed Securitization
July 23, 2014 x:xx PM Eastern Standard Time
RADNOR, Pa.—JGWPT Holdings Inc. (“JGWPT”) (NYSE:JGW) today announced that it has issued, through JGWPT XXXII LLC, $227,564,000 of Fixed Rate Asset Backed Notes. The notes will primarily be collateralized by payments from a pool of rights arising under court ordered structured settlement payment purchase contracts, court ordered lottery payment purchase contracts and annuity contracts primarily originated by the J.G. Wentworth and Peachtree Financial Solutions companies.
“This represents the 39th securitization for JGWPT and its predecessors, and we are pleased with the execution and strong market demand for both classes of our bonds,” said John Schwab, JGWPT’s Executive Vice President and Chief Financial Officer.
The issue consists of two classes of placed notes: $202,280,000 Class A Fixed Rate Asset Backed Notes that will pay 3.61%, and $25,284,000 Class B Fixed Rate Asset Backed Notes that will pay 4.48%. The notes will be rated AAA (DBRS) and Aaa (Moody’s); and BBB (low) (DBRS) and Baa2 (Moody’s), respectively.
“This placement demonstrates the continued robust demand for our asset-backed program,” said David J. Miller, JGWPT’s Chief Executive Officer. “If these market conditions continue, we expect to complete one additional securitization this year.”
Credit Suisse was the sole structuring advisor and was joined by Barclays as joint book-running manager. Deutsche Bank Securities and Natixis acted as co-managers.
This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements.” Statements preceded by, followed by or that otherwise include the words “plans”, “expects”, “does expect,” “budget,” “forecasts,” “anticipates”, or “does not anticipate,” “believes,” “intends”, “projects”, and
“estimates” and similar expressions or future or conditional verbs such as “would,” “might,” “will”, “should”, “may” and “could” are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements.
Consideration should be given to the areas of risk set forth under the heading “Risk Factors” in our filings with the Security and Exchange Commission (the “SEC”), including our registration statement on Form S-1 for our initial public offering, as filed with and declared effective by the SEC on November 8, 2013, and in our other filings made from time to time, in connection with considering any forward-looking statements that may be made by us and our business generally. Except for our ongoing obligations to disclose material information under the federal securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless we are required to do so by law.
About JGWPT Holdings Inc.
JGWPT focuses on key sectors, including structured settlement payment purchasing, annuity payment purchasing, lottery payment purchasing and pre-settlement funding. Through our two market-leading and highly-recognizable brands, J.G. Wentworth and Peachtree Financial Solutions, we purchase future structured settlement payment streams from our customers.
For more information about JGWPT, visit www.jgwpt.com or use the information provided below.
Contacts
Investor Relations:
866-386-3853
investor@jgwpt.com
or
Media Inquiries:
Makovsky
John McInerney, 212-508-9628
jmcinerney@makovsky.com