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 Rate | |||||||||||||
| 6 month | 4.25 | % | Closed | ||||||||||||
| 1 year | 5.00 | % | Closed | ||||||||||||
| 2 years | 6.50 | % | 5.50 | % | |||||||||||
| 3 years | 7.50 | % | 6.25 | % | |||||||||||
| 5 years | 8.50 | % | 7.50 | % | |||||||||||
| 7 years | 9.00 | % | 8.50 | % | |||||||||||
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.
For more information about GWG Holdings, email info@gwglife.com or visit www.gwglife.com.
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