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 Share % by Volume
1 Societe Generale 16.10
2 Rabobank 15.11
3 Barclays 9.42
4 Credit Agricole 7.93
5 Morgan Stanley 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%