Bob Dylan Among Artists Linked to $300 Million Sesac Bond Issue
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Sesac Inc., a performance-rights company, plans to sell $300 million of bonds linked to licensing agreements, copyrights and royalty payments for artists from Bob Dylan to Neil Diamond.
The offering, being arranged by Goldman Sachs Group Inc., will be rated BBB- by Standard & Poor’s, the rating company said in a July 31 report. The Nashville, Tennessee-based company will use the proceeds to refinance debt and pay a dividend to the owner, as well as cover transaction costs, according to S&P.