Capital markets week ahead: SESAC, Dynatrace, Sirius Minerals

摘要

NAME THAT TUNE If you're a fan of Bob Dylan, Adele or Neil Diamond, then a new securitisation out this week could be right up your street. Guggenheim Partners is in the market with a US$560m whole business ABS linked to revenues generated by SESAC, a performance rights business that works with some of the biggest music artists, and which was bought by Blackstone two years ago. The deal is reminiscent of the now-folkloric Bowie Bonds, a pioneering intellectual property securitisation from 1997 linked to rights on songs written and recorded by the great David Bowie. This latest ABS also comes seven years after Goldman Sachs tried and failed to sell a US$300m ABS linked to SESAC's music royalties due to a lack of interest. Will Guggenheim have better luck?