KKR Subsidiary Markets First-Ever Music-Royalty Securitization to Bond Investors in Offering Led by Credit Suisse and KKR

KKR Credit Advisors is selling asset-backed securities supported by publishing and sound recording royalties, as well as recoupment of artist advances, for a portfolio of songs valued at more than $1.1 billion, according to a presale report from Kroll Bond Rating Agency. The diverse catalog of 65,000 songs underlying the transaction, including hits from The Weekend, Stevie Nicks, and Maroon 5, was owned by Kobalt Capital Limited and administered by Kobalt Music Publishing, an independent music-rights company. The offering is being led by Credit Suisse and KKR.

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Download our useful and frequently sought out guide to copyright law as it pertains to musical compositions and sound recordings, including detailed information regarding the statutory termination provisions of the US Copyright Act and helpful charts outlining the applicable timeframes during which the recapture rights provided for thereunder may be exercised, as well as practical tips for musical estates, music publishers, and other content owners.