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7 months ago
BRIEF-White Eagle Life Settlement subsidiary has amended its 15-year revolving credit facility
January 3, 2017 / 11:41 AM / 7 months ago

BRIEF-White Eagle Life Settlement subsidiary has amended its 15-year revolving credit facility

1 Min Read

Jan 3 (Reuters) - Emergent Capital Inc

* White Eagle Life Settlement subsidiary has amended its 15-year revolving credit facility

* Its Red Falcon Life Settlement subsidiary has been merged into White Eagle Subsidiary

* White Eagle credit facility to pay premiums on consolidated portfolio of 620 life insurance policies with $3 billion in death benefits

* Projected cash distributions to emergent of $232 million over next 5 years

* Consolidated credit facility limit increased to $370 million

* Consolidated credit facility extended to 2031

* Borrowings under amended facility will continue to be used to pay premiums on life insurance policies pledged as collateral

* Policy proceeds will be used to pay outstanding interest when due through facility's waterfall provisions Source text for Eikon: Further company coverage:

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