In 1997, famous Musician and song writer David Bowie came up with a new scheme to generate cash from his extensive back catalogue .He sold asset-backed securities dubbed
Bowie bonds which awarded investors a share in his future royalties for 10 years.
Structured Asset Sales is owned by David Pullman, an investment banker who in 1997 oversaw a $55 million sale of "
Bowie Bonds" that made David Bowie the first musician to sell bonds backed by royalties from his catalog.
In 1996 he offered "
Bowie bonds", giving investors a share in his future royalties for 10 years.
Roger Crombie's column ("
Bowie Bonds Rock Secure," March 2004), is the latest example.
Glam rock pioneer David Bowie, long famous for his innovative music and embrace of the new, became the first songwriter in history to use derivatives to securitize future royalties from his own song catalog when he created "
Bowie Bonds" in 1997.
They set up a bond offering with David Pullman, maestro of the so-called "
Bowie Bonds" with David Bowie, though, Brian Holland notes, "that's a tricky situation.
AmRe's securitization is similar to "
Bowie Bonds," bonds that were based on the future revenue stream of recordings by singer David Bowie, Hartwig said.
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.
The lawsuit was filed by a company owned by David Pullman, an investment banker who in 1997 arranged the pioneering $55 million sale of "
Bowie Bonds," which made David Bowie the first musician to sell bonds backed by royalties from his catalog.