EMI Securitization ‘Still In The Cards’

The securitization of EMI Group PLC’s music publishing assets has been put on hold indefinitely but is still in the offing, people familiar with the matter said.

  • 03 Dec 2007
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-- Cristina Pittelli

The securitization of EMI Group PLC’s music publishing assets has been put on hold indefinitely but is still in the offing, people familiar with the matter said. Ongoing credit turmoil has halted the fundraising plan meant to finance Terra Firma Capital Partners’ acquisition of the corporation. But an official at Citigroup, an adviser to EMI, told TS that despite the hold, securitization is “still in the cards.” The story of the deal being shelved was first reported today by Dow Jones Newswires.

EMI, which owns back-catalog rights to the likes of The Beatles, had initially mandated the Royal Bank of Scotland and Deutsche Bank in April to look into the potential securitization, but since Terra Firma became EMI’s new owners in August, Deutsche Bank is no longer involved. In April, EMI said it had made the decision as “part of its objective to optimize its balance sheet.”

Terra Firma, who agreed to buy EMI for £2.4 billion ($4.9 billion), and RBS did not immediately return calls for comment.

  • 03 Dec 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,628 18 11.81
2 Citi 4,288 14 10.95
3 Rabobank 2,633 4 6.72
4 Goldman Sachs 2,615 4 6.67
5 Barclays 2,603 8 6.64

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%