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    Home»Music»The Weeknd Seeks $1 Billion in Financing Backed by His Catalog
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    The Weeknd Seeks $1 Billion in Financing Backed by His Catalog

    James EvendenBy James EvendenAugust 26, 20252 Mins Read
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    The Weeknd Seeks  Billion in Financing Backed by His Catalog
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    The Weeknd is searching for $1 billion in financing with a music catalog-backed deal that can give him $250 million in money (Alexa, play “Starboy”) plus $750 million in debt (by no means thoughts, play “Cry for Me”), Bloomberg stories.

    An investor group referred to as Chord Music Companions at the moment owns 50% of his publishing. The once-and-future Abel Tesfaye (he stated he plans to retire the title The Weeknd) now needs to money out $250 million in fairness from what’s left of his catalog, plus elevating $500 million in senior debt (decrease curiosity, should be paid again first) and $250 million in junior debt (greater curiosity, should be paid again second). Lyric Capital Group is main the discussions to seek out traders for the $1 billion.

    The construction of the deal means that The Weeknd plans to launch enterprise ventures with the $1 billion. The rates of interest will definitely be greater than bond yields or inventory market returns, or why would Lyric and the opposite traders tackle threat? And it is dangerous, for everybody however particularly for Tesfaye. He’s going to be in debt for $750 million, half of Taylor Swift’s profession web price. Add in the truth that he’s attempting to money out $250 million in fairness from his catalog now — that means he gained’t have the identical choice later — and it’s onerous to see how his music profession alone pays this again.

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    Granted, the deal may not undergo. Often investor teams prefer to announce the sale as soon as it’s closed, as an alternative of promoting the motion to potential traders by giving interviews to Bloomberg. But when it does occur, there’s actually solely two methods this ends: The Weeknd joins the ranks of billionaire enterprise house owners like Rihanna and JAY-Z, or he recordsdata for chapter.

    See also  Prosecutors in Sean "Diddy" Combs Case Seek 11-Year Prison Sentence

    It’s a colossal threat by an bold artist who’s trying to degree up yet one more time. Alexa, play “Blinding Lights.”

    In January, Tesfaye launched what is predicted to be his final album as The Weeknd, Hurry Up Tomorrow.



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