In a remarkable feat, Concord, one of the world's leading independent music companies, has secured a staggering $850 million in financing to propel its strategic growth and acquisition initiatives. This latest move underscores Concord's unwavering commitment to shaping the future of the music industry and solidifying its position as a formidable force to be reckoned with.

Unlocking the Power of Music Catalogs

Expanding the Music Empire

Concord's recent acquisitions have been nothing short of remarkable, showcasing the company's strategic vision and financial prowess. The company has made several high-profile purchases, including the catalogs of Latin music superstar Daddy Yankee for a reported $217 million, the Genesis members Phil Collins, Tony Banks, and Mike Rutherford for $300 million, and the 150,000-song catalog of Round Hill Music for $468.8 million. Additionally, Concord has added the 30,000-song strong Mojo Music to its impressive portfolio, further solidifying its position as a dominant player in the industry.

Securitizing the Music Assets

This latest $850 million financing round marks Concord's third securitization offering, which is cross-collateralized with the notes offered in 2022. According to the announcement, this issuance now stands as the largest music-backed asset-backed securitization to date, underscoring Concord's strategic approach to monetizing its music assets and positioning the company as a formidable force in the industry.

Diversifying the Catalog

The notes secured by this financing will be backed by a pool of catalogs containing over 1 million songs, including hits recorded by iconic artists such as the Beatles, Carrie Underwood, Cheap Trick, Creed, Genesis, Kiss, Mike + The Mechanics, Otis Redding, Phil Collins, Plain White T's, R.E.M., R.E.O. Speedwagon, and The Rolling Stones. This diverse and impressive catalog reflects Concord's commitment to representing a wide range of musical genres and eras, ensuring that its assets continue to hold immense value and appeal.

Strengthening the Financial Foundation

The proceeds from this latest issuance will be used to retire the private 2023-1 note issuance, fund additional acquisitions, and support Concord's continued growth. This strategic move not only solidifies the company's financial foundation but also positions it for further expansion and diversification, allowing Concord to continue investing in the music industry and supporting the artists and writers in its catalog.

Celebrating Artistic Talent and Cultural Significance

Concord's CEO, Bob Valentine, expressed the company's pride in managing a catalog with such a remarkable depth of artistic talent and cultural importance. He emphasized Concord's focus on elevating and supporting the artists and writers in its portfolio, underscoring the company's commitment to nurturing and preserving the legacy of the music industry's most iconic creators.

Partnering for Success

Concord's financing partners, Apollo and ATLAS SP, have played a crucial role in this landmark transaction. Apollo's Paul Sipio praised Concord's management team for their exceptional vision in building a catalog that reflects the breadth and evolution of modern music, while Bret Leas, Apollo Partner and Co-Head of Asset-Backed Finance, expressed the firm's pride in providing a tailored solution to support Concord's success.

Securing the Future

With this $850 million financing, Concord has solidified its position as a leading force in the music industry. The company's strategic approach to acquisitions, securitization, and catalog diversification has positioned it for continued growth and success, ensuring that the music it represents will continue to captivate audiences for generations to come.