LTC Global Completes $129.6 Million Securitization of Insurance Commission Receivables

LTC Global, Inc. today announced that it has completed a $129.6 million
securitization. The transaction consisted of the sale of asset-backed
securities to seven institutional investors. The securities are rated “A
(sf)” by DBRS, Inc. and backed by a diverse portfolio of insurance
commission receivables arising from past sales of Long Term Care
insurance policies. KeyBanc Capital Markets, Inc. acted as structuring
agent, initial purchaser and placement agent.

“The transaction will enable LTC Global to continue the growth of its
finance and distribution businesses,” said Daniel G. Schmedlen, Jr.,
Chief Executive Officer of LTC Global. “This transaction is the first of
its kind and represents a tremendous effort by our company, especially
our finance and actuarial groups,” said Schmedlen.

“KeyBanc did a great job bringing us to market as a first-time issuer in
a new asset class. The offering was oversubscribed by a significant
amount, and we are very satisfied with pricing,” said Schmedlen.

Winston & Strawn LLP advised LTC Global in connection with the
transaction. “Jeffrey Stern and his team at Winston were superb in
structuring and executing the transaction, especially considering the sui
generis nature of the deal,” said Schmedlen.

About LTC Global

LTC Global is the leading provider of capital to insurance agents and
agencies through commission advance programs and renewal commission
purchases. Through its agency subsidiaries, LTC Global is a national
distributor of life and health insurance products and the largest
independent distributor of Long Term Care insurance. LTC is
headquartered in Fort Myers, Florida. For more information about LTC
Global, visit

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