Close Close

Portfolio > Asset Managers

Peach Renews Lottery Program Backing

Your article was successfully shared with the contacts you provided.

Peachtree Settlement Funding says a lender has renewed a credit facility that supports a lottery prize receivables purchasing program.

Peachtree, a unit of Peach Holdings Inc., Boynton Beach, Fla., set up the program to trade lump sums for lottery and sweepstakes pay streams.

The lender renewed the credit facility, in spite of a “very challenging credit environment,” because of the high quality of the assets backing the lottery and sweepstakes payment streams, Peachtree says.

The assets backing the streams are U.S. Treasury zero-coupon bonds, Peachtree says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.