MINNEAPOLIS, Sept. 13, 2016 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq:GWGH), a specialty finance company in the life insurance secondary market, today announced it has closed the sale of its three- and five-year publicly registered L Bonds through the Depository Trust Company (DTC).
DTC manages electronic clearing and settlement for corporate and municipal securities.
“The ability to close L Bonds through DTC accomplishes a strategic goal of GWG and marks another milestone for the company as we celebrate our 10-year anniversary,” said GWG Chief Executive Officer Jon Sabes. “GWG’s L Bond offering is our primary financing tool in our portfolio growth strategy and DTC adds another feature to an already attractive, high-yield, non-correlated, fixed-income offering.”
“DTC eligibility greatly enhances ease of doing business with GWG and significantly increases the universe of investors who can purchase GWG’s L Bonds,” said Mark Petersen, GWG Head of Capital Markets. “DTC eligibility provides speed as well as streamlined reporting through our full-service transfer agent, Securities Transfer Corporation.”
About GWG, Inc.
GWG Holdings, Inc. (Nasdaq:GWGH) is a specialty finance company in the life insurance secondary market. GWG is dedicated to creating a vibrant life insurance secondary market for the economic benefit of seniors with life insurance who are 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 June 30, 2016, GWG’s growing portfolio consisted of over $1.1 billion in face value of policy benefits. Since 2006, GWG has purchased over $2 billion in life insurance policy benefits and paid seniors $357 million for their life insurance.
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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, specifically including our Annual Report on Form 10-K and any amendments thereto. Additional information will also be set forth in our future quarterly reports on Form 10-Q, 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.
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Source:GWG Holdings, Inc.