Peachtree Financial Solutions

Press Releases

Nov 3, 2008 : Peachtree Renews Credit Facility for Purchase of Lottery Prize Receivables

Boynton Beach, FL – November 3, 2008: Peachtree Settlement Funding (“Peachtree”) announces the renewal of its credit facility for the purchase of lottery prize receivables. Through its Special Asset Funding group, Peachtree purchases some or all of a lottery or sweepstakes winner’s future payments in exchange for a lump sum. In addition, Peachtree purchases professional athlete guaranteed contract payments. The renewed facility will be used to purchase lottery payments in states where it is permitted by law.


“We are pleased that our lender recognizes the extremely high credit quality of these assets and agreed to extend this facility despite the very challenging credit environment. It is quite an endorsement of these types of assets given the world financial situation,” said Paul Benk, head of Peachtree’s Special Asset Funding group.


Hasham Malik, Peachtree’s Chief Capital Markets Officer adds, “Given the dearth of liquidity in the capital markets, we are pleased that our credit partners continue to stand with us. Peachtree’s lottery products are very strong assets as they are fully defeased by US Treasury zero coupon bonds held by the relevant state. Our lenders benefit from both the security of the asset as well as the generous yield, approximately twice the spread of a comparable municipal bond.”



About Peachtree


Peach Holdings, Inc., a Florida corporation, is the parent (holding) company of the Peach group of companies, including, among others, Peachtree Settlement Funding, Peachtree Pre-Settlement Funding, Peachtree Life Settlements and Peachtree Advanced Life Solutions (together, “Peachtree”). Peachtree is a specialty factoring company that purchases high-quality deferred payment obligations. Through its group of affiliated companies, Peachtree caters to people seeking to sell structured settlements payments, annuity payments, lottery prize payments, life insurance policies, sweepstakes awards and sports contract payments. In addition, Peachtree provides cash advances to people with pending personal injury claims. Peachtree has purchased over $4 billion of specialty receivables and continues to expand into new areas by bringing institutional financing and professionalism to bear on underserved markets. For further information about Peachtree, please contact Dana Peller at (866) 931-2683. Peachtree’s corporate website address is www.peachtreefinancialsolutions.com.