Deals
Kobalt Music Lines Up $550 Million in Debt to Buy Song Rights
- JPMorgan, HPS Investment Partners are said to arrange funding
- New financing coincides with surging interest in song catalogs
Stevie Nicks
Photographer: Jamie McCarthy/Getty ImagesThis article is for subscribers only.
Kobalt Music Group Ltd. has raised $550 million in debt financing for the acquisition of music copyrights, according to a person familiar with the deal, giving the closely held company funds to build its catalog.
JPMorgan Chase & Co. and HPS Investment Partners provided the funds, said the person, who asked not to be identified because the terms haven’t been announced. All three parties declined to comment.