Pharma fund to sell rare bonds backed by drug royalties

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By Matthew Scully
16 Jun 2014

A private equity firm with investments in over 40 royalty streams from drug and life science companies is about to enter the capital markets with a type of deal not seen in the US in two years.

Goldman Sachs and Bank of America are meeting with investors to market a $454m asset-backed security being offered by DRI Capital. The notes could be sold this week, according to investors looking into the esoteric issuance.

The deal would be the first time ...

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