, Columnist
David Bowie Will Always Be One of a Kind in Bonds
A music-rights company evokes “Bowie bonds,” but it is joining the whole-business securitization trend.
Ziggy Stardust remains an original, in music and finance.
Photographer: Express/Hulton Archive/Getty Images
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David Bowie will always be the bond market’s “Starman.”
Wall Street underwriters and bond traders were reminded of the late rock superstar this week because of a planned $560 million asset-backed securities deal next week from SESAC, a Nashville-based performing-rights organization that has artists like Adele, Bob Dylan, Green Day, Guns N’ Roses and Neil Diamond among its roster of about 35,000 musicians. In the world of debt markets, running the numbers on pop stars doesn’t come up that often.