Structured Finance Archives

$111.2 Million Tax Lien Securization

SP structured a unique tax lien securitization to allow Plymouth to purchase all the delinquent tax liens from Los Angeles County’s School Districts
By combining asset securitization and municipal finance expertise, SP secured AAA ratings from both S&P and Moody’s enabling the structured financing to achieve an extremely low funding cost.
Among the unique and first-to-market aspects of the transaction:
- –The collateral was LA County’s promise to pay, rather than actual tax liens certificates
- –The transaction closed on the acquisition date; no tax lien warehouse was involved
- –Plymouth received substantial cash proceeds on closing in excess of its acquisition costs and all fees.

October 12, 2015

Plymouth Financial

$111.2 Million Tax Lien Securization SP structured a unique tax lien securitization to allow Plymouth to purchase all the delinquent tax liens from Los Angeles County’s School Districts By combining asset securitization and municipal finance expertise, SP secured AAA ratings from both S&P and Moody’s enabling the structured financing to achieve an extremely low funding cost. Among the unique and […]

August 31, 2014

Plymouth Financial

$350 million participating warehouse facility Plymouth was the largest purchaser and servicer of tax liens in the United States. Plymouth retained Scura Partners to develop a financing structure to support its growth. Scura Partners identified, structured and negotiated the facility on very attractive terms, providing 100% financing for Plymouth Financial The facility was the first of its kind in the tax […]

October 4, 2012

Unicorn Financial

$60 million asset-backed commercial paper facility Unicorn Financial Services provides financing for individuals having elective medical procedures. Prior to Scura Partners’s involvement, the company was financing its portfolio with a non-bank finance company line. Scura Partners structured a facility which incorporate elements of both credit card and trade receivable securitization. Scura Partners worked closely with the purchaser, a global commercial […]