David Bowie $55 million private placement: Fahnestock & Co
Securitizations of intellectual property are rare, and this was one of the most eye-catching deals of the year – the first ever using music royalties as future receivables. Bowie has always been a creative influence in the music scene, but this is his first innovation in finance. The securities, which are privately placed, were backed by record masters, publishing rights and copyrights. Only recordings up to 1990 are part of the securitization.
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