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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.
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