SESAC Selling $300 Million Bond
SESAC is preparing a $300 million bond sale as reported by The Wall Street Journal.
The bond offering is being marketed to both institutional investors and high net worth individuals and is backed by the revenues it receives that broadcast their music. The bonds are only available to “qualified institutional buyers,” or those who have $100 million or more of investable assets.
Based in Nashville, SESAC has the exclusive rights to the public broadcast or performance of such legendary artists as Bob Dylan and Neil Diamond.
This is the fourth time SESAC has issued bonds with proceeds going toward paying dividends to shareholders and being used to refinance existing debt among others.
Goldman Sachs is representing the bond offering. Click here for the full article.
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