Peachtree Financial Solutions says it has lined up $35 million to $50 million in funding for life contingent structured settlement transactions.
Peachtree, part of Peach Holdings Inc, Boynton Beach, Fla., says a large European bank has agreed to underwrite the funding agreement. The bank also will be the principal distribution agent for buyers of the settlement agreements, Peachtree says.
“Although the markets have been exceptionally difficult, this agreement is another indication that the credit markets are normalizing and that investors recognize the value of these high credit quality, non-correlated assets,” says Hasham Malik, Peachtree’s chief capital markets officer.
CORRECTION: An earlier version of this story described the use of the European bank funding incorrectly.