DRB Financial Solutions Closes on a $50M Credit Facility
New Facility to support growth in its structured settlement & annuity payment purchasing business unit.
DELRAY BEACH, Fla., May 4, 2015 /PRNewswire/ -- DRB Financial Solutions, LLC (DRB) is pleased to announce that it has closed on an additional credit facility related to life-contingent annuity payments. This multi-year $50,000,000 revolving credit facility will allow DRB to acquire even larger volumes of these annuity payment rights and securitize composite pools thereof. With this transaction, DRB has closed on over $750 million of multi-year funding capacity to fuel its growth in less than 10 months.
"We are very pleased to establish this relationship with another institutional partner that recognizes the inherent credit quality of these assets and the strength of DRB's underwriting, origination and servicing capabilities," said Jason Sutherland, Capital Markets Director for DRB.
David Manchester, Director of Business Development, added "this will allow our wholesale origination channel to really ramp-up as we are now ready to acquire even larger pools of these annuity payments. Moreover, this facility further supports our in-house origination staff's rapidly expanding activities."
About DRB Financial Solutions, LLC: The DRB Financial Solutions family of companies is a leading purchaser of annuity payments and other illiquid cash flows. DRB offers liquidity and optionality to prospective sellers in need of cash who have guaranteed or life-contingent structured settlements, annuities and/or investment annuities. DRB is also a leading provider of advances to personal injury victims and their families.
Contact: Mark Mruz
[email protected] / 561-982-3000
SOURCE DRB Financial Solutions, LLC
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article