MINNEAPOLIS, Aug. 02, 2016 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq:GWGH), a specialty finance company and a leading purchaser in the life insurance secondary market, today announced new rates for its L Bond offering. In addition, the Company will be closing the sale of its short-term L Bond debt (maturities of one year or less). The changes will take effect September 1, 2016 (see table below).
“Many investors are seeking alternative, non-correlated, yield-based investment products – and we are proud that GWG’s L Bond will continue to meet that need,” said Chief Executive Officer Jon Sabes. “The interest rates we offer for the L Bond are highly competitive, making the offering a compelling investment opportunity amid challenging market conditions.”
“By lengthening the duration of our financing, GWG is creating a more stable balance sheet that benefits all our stakeholders,” said Chief Financial Officer Bill Acheson. “Furthermore, the rate changes on the L Bond reflect the positive growth and maturation of GWG overall and specifically our portfolio of life insurance which indirectly supports our investment offerings.”
|Maturity Term||Current Rate|| Effective Sept. 1, 2016 |
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq:GWGH) is a specialty finance company and a leader in the life insurance secondary market. GWG is dedicated to creating a vibrant secondary life insurance market for the economic benefit of seniors owning life insurance seeking post-retirement financial solutions, investors seeking yield derived from non-correlated assets, financial advisors seeking value-added products and services for their clients, and shareholders seeking to gain from the realization of this marketplace. As of March 31, 2016, GWG’s growing portfolio consisted of over $1.0 billion in face value of policy benefits. Since 2006, GWG has purchased nearly $2 billion in life insurance policy benefits and paid seniors over $335 million for their life insurance.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "would," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about our estimates regarding future revenue and financial performance. We may not actually achieve the expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the expectations disclosed in the forward-looking statements we make. More information about potential factors that could affect our business and financial results is contained in our filings with the Securities and Exchange Commission. Additional information will also be set forth in our future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that we make with the Securities and Exchange Commission. We do not intend, and undertake no duty, to release publicly any updates or revisions to any forward-looking statements contained herein.
Source:GWG Holdings, Inc.