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DRB Financial Solutions Closes First $150 Million of $300 Million Financing
August 22, 2019
Source: PR Newswire
DRB Financial Solutions, LLC (DRBfinancial.com) and its wholly-owned subsidiary DRB Capital, LLC are pleased to announce that they have closed on the first $150M of a planned $300M term financing facility for their structured settlement and annuity payment stream programs. DRB Financial has now raised over $1.5 Billion to support its various business units.
DRB Capital is a leading purchaser of both structured settlement and annuity payments. The company offers liquidity and optionality to prospective sellers in need of cash who have guaranteed or life-contingent structured settlements, annuities and/or investment annuities.
"This facility is being provided by one of the largest asset managers in the world and we couldn't be happier to have them with us as we continue to build DRB Financial," said Jason Sutherland, DRB's Senior Vice President of Capital Markets.
DRB's Chief Financial Officer, Steve Bashmakov, added "This is a long-term commitment with a great partner. This credit facility and relationship will allow us to accelerate growth in several areas."
The $300M financing facility is yet another in a string of recent votes of confidence from the capital markets that will help fuel DRB Financial's continued growth.
About DRB Capital, LLC: DRB Capital is a leading purchaser of annuity payments and payments from structured legal settlements. The company offers liquidity and optionality to prospective sellers in need of cash who receive guaranteed and/or life-contingent structured settlements or annuity payments.
About DRB Financial Solutions, LLC, (DRB) provides liquidity solutions to individuals and small/medium-sized businesses holding high quality but illiquid assets. Having raised over $1.5 billion in capital and developed a robust origination platform, DRB is a market leader in five major lines of business: USClaims (USclaims.com), DRB Capital (DRBCapital.com), Echelon Medical Capital (EchelonMedicalCapital.com), CRG Financial (CRGFinancial.com), and Producer Advance (ProducerAdvance.com).