Get the latest gossip

Kobalt’s New Credit Facility, Securitization Give It Over $1 Billion For Dealmaking


Kobalt Music Group has completed a $266.5 million asset-backed securitization transaction and landed a new $450 million revolving credit facility.

Coupled with the previously announced joint venture with Morgan Stanley and $266.5 million asset-backed securitization (ABS) transaction, these financial maneuvers provide Kobalt with over $1 billion in funding for acquisitions and investments. The RCF “will fuel our growth initiatives and allow us to further fortify our position as an industry trailblazer,” Kobalt CFO Catrin Drabble said in a statement. ATLAS SP Partners was the sole structuring agent and joint bookrunner alongside Truist Securities.

Get the Android app

Or read this on Billboard

Read more on:

Photo of kobalt

kobalt

Related news:

News photo

Publishing Briefs: Gunna Sticks With Kobalt, BMG Signs Daniel Johns of Silverchair