Concord Taps Bond Market With $1.65 Billion Asset-Backed Security

Among the offering’s sound recordings, Concord Music Group administers a majority and Universal Music Group distributes a majority. Concord Music Publishing administers most of the music publishing rights and ICE, ASCAP and BMI are the collective management organizations for most of the publishing rights.

Series 2022-1 contains two components: Class A-1 VFN, with a principal balance of $150 million and an anticipated repayment date of January 2026; and Class A-2, with a principal balance of $1.5 billion and an anticipated repayment date of January 2029. Class A-1 VFN will have a variable interest rate — the secured overnight financing rate plus a margin — and Class A-2 will have a fixed interest rate. The notes will pay interest quarterly.

Concord’s offering is the largest of the music royalty-backed offerings rated by KBRA in the last 12 months. KKR’s

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Park Ridge Farmers Market approaching decision about whether to move market for 2023 seasonDiscussions about whether and where to relocate the Park Ridge Farmers Market for future seasons are continuing, with a meeting scheduled for Nov. 30 to discuss the question in earnest.
Source: chicagotribune - 🏆 8. / 91 Read more »