Beginning with the Bowie bonds
in 1997 and continuing to the present time, interest has escalated in intellectual property asset-backed securities.
even inspired a thriller novel, Something Wild (2002), by Linda Davies.
He recently, in conjunction with a US Investment Bank, issued $55M in 15-year Bowie Bonds
The Bowie bonds
were so successful that Nomura have now established a billion-dollar fund in their first year of operation.
Rod will follow in the footsteps of pal David Bowie, who raised a staggering pounds 30million last year by selling his own Bowie bonds
By selling shares in the future value of his various business enterprises, the Bowie Bonds
, as they were called, helped Bowie overcome the pain of all those lost Bowie bucks back in the '70s.
He produced some bits of paper - Bowie Bonds
- and said "whoever buys these gets my royalties".
Two years ago he issued so-called Bowie Bonds
to the public, banking pounds 34 million cash - money loaned against future royalties.
The asset-backed securities can also be pooled with other CAK/UCC loans and offered to investors, much as the so-called Bowie Bonds
The so-called Bowie bonds
were rated a desirable single-A-3 by Moody's Investors Service - partly because music giant EMI licensed the back catalog for 15 years, which was put up as collateral to Prudential.
As creator of all Pullman Bonds(TM), his asset backed securitization deals include the famous $55 million Bowie Bonds
transaction, the $30 million deal with Holland Dozier Holland (Motown Hit Machine) an eight figure deal with R&B greats Ashford & Simpson and the $30 million deal with "Godfather of Soul" James Brown.
The Pullman Group's music royalty securitization with Ron Isley and the Isley Brothers' catalog joins the ranks of other prestigious transactions created by David Pullman, including the Bowie Bonds
, Holland Dozier Holland (Motown Hitmachine) Bonds, Ashford &Simpson Bonds and James Brown Bonds.