Abacus completes life-insurance securitization exceeding $400 million

Abacus Global Management ($ABX) completed a securitization backed by life-insurance policies with a total structure exceeding $400 million. The transaction includes senior Class A notes, Class B notes and a residual interest. The company said the financing received an investment-grade rating and expands its ability to fund its life-settlement asset platform.

Abacus intends to use the financing to support policy origination and general corporate purposes, while affiliated businesses continue providing servicing and management. The headline value covers the overall securitization structure, including its residual component; it is not a statement that more than $400 million of fresh net cash was received. The transaction establishes completed financing, while future fee income and deployment depend on subsequent business activity.

Sources:

• Abacus Global Management — completed securitization, Business Wire release