Sundance Strategies, Inc. Announces Financing Transaction that Plans to Syndicate a New Bond Fund of Up to $500 Million
September 22, 2020 at 11:00 am
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Sundance Strategies, Inc. announced a financing transaction that plans to syndicate a new bond fund of up to $500 million. Sundance Strategies intends to use the proceeds from the transaction to execute its strategy of acquiring and securitizing minimum-risk life insurance policies with favorable financial terms to the company. The facility will be issued at an aggregate principal amount of a minimum of $250 million and maximum amount of $500 million, which will be sold incrementally to accredited institutional investors. The bonds will be issued in minimum denominations of $10 million, and integral multiples of $1 million above the minimum. Interest on the bonds will accrue and be payable semiannually, bearing interest at an annual fixed rate of 5%. Subject to customary closing conditions, the proposed investment facility is expected to close in the fourth quarter 2020.
Sundance Strategies, Inc. is a professional services provider engaged in acquiring life settlements. The Company provides professional services to specialty structured finance groups, bond issuers and life settlement aggregators. As a professional services provider, the Company applies various practices to advise on the selection of specific portfolios of life insurance policies to meet the needs of its clients. Its clients include bond issuers, bond investors, or other structured finance product issuers. It develops strategies and methodologies, which include the acquisition of life insurance portfolios, then use common structured finance techniques and analytics to structure bonds for issuances, including principal protected bonds. The Company provide current and ongoing resources for all analytics, as well as advisement support for the investment and non-investment grade ratings for the managed asset pool and the managed cash accounts.