Imperial Holdings, Inc. (NYSE: IFT) ("Imperial"), a specialty finance company with a focus on providing liquidity solutions on individual life insurance policies and purchasing structured settlement payments, today announced that, through its subsidiaries, it has resumed financing the origination of guaranteed structured settlements receivables under its 8.39% Fixed Rate Asset Backed Variable Funding Notes facility.
Antony Mitchell, Chairman and CEO of Imperial commented, “Resuming our financing relationships marks an important step for our business model. The resumption of this arrangement will allow us to immediately improve cash flow as we will no longer maintain these receivables on our balance sheet.” Mr. Mitchell concluded, “In just a few short weeks we have been able to initiate a new banking relationship and re-establish and secure funding arrangements for both guaranteed and life contingent structured settlements.”
About Imperial Holdings, Inc.
Imperial is a leading specialty finance company that, through its operating subsidiaries, provides customized liquidity solutions to owners of illiquid financial assets. Imperial’s primary operating units are Life Finance and Structured Settlements. In its Life Finance unit, Imperial provides premium finance loans to policyholders for the payment of premiums and purchases life insurance policies. In its Structured Settlements unit, Imperial purchases from individuals long-term annuity payments issued by highly rated U.S. insurance companies. More information about Imperial can be found at www.imperial.com.Safe Harbor Statement This press release may contain certain "forward-looking statements" relating to the business of Imperial Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, and involve known and unknown risks and uncertainties. Although Imperial believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Imperial's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Imperial's periodic reports that are filed with the Securities and Exchange Commission and available on its website at www.sec.gov. All forward-looking statements attributable to Imperial or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Imperial does not assume a duty to update these forward-looking statements.