GWG Closes Second Senior Bank Credit Facility

MINNEAPOLIS, Sept. 19, 2016 (GLOBE NEWSWIRE) — GWG Holdings, Inc. (Nasdaq:GWGH), a specialty finance company in the life insurance secondary market, announced that its special purpose subsidiary, GWG DLP Funding IV, LLC, has entered into a $172 million, 10-year credit facility originated by CSG Investments, Inc. (“CSG”).

The new 10-year senior credit facility, in addition to its existing $100 million senior credit facility provided by DZ Bank AG Deutsche Zentral-Genossenschaftsbank (DZ Bank), supports GWG’s ability to purchase and finance life insurance assets acquired in the secondary market. Proceeds from the new credit facility are expected to be used to reduce debt outstanding with …