| Ziggy: innovative | ||||||
David Bowie was a big hit when he debuted in the securities market. His $55 million bond issue securitized by future royalties on his back catalogue of records was an innovative transaction, appeared to herald a slew of similar deals, and made a star out of banker David Pullman.
It’s been five years since the deal and the 8% bond has matured. The market, however, has not. Only Pullman has survived as a player in intellectual property securitization.
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