The Financial Times is reporting Goldman Sachs is delaying a bond issue that was backed by royalties from songs penned by Bob Dylan and other musicians.The $300 million “esoteric asset-backed security” was being issued on behalf of Sesac, Nashville-based performing rights organisation.
The bond issue was supposed to have happened this month but has now been delayed until September, “after Goldman’s team pulled their original offering from the market,” people familiar with the matter told the FT’s Tracy Alloway.
Alloway also noted a potential soundtrack for pitching the issue:
“If the prospects darken they have plenty of options for Dylan songs to use as soundtrack for any roadshow – Most Likely You Go Your Way and I’ll Go Mine from 1966, for example, or the more recent When The Deal Goes Down.
“If it falls apart entirely and bankers are denied the hunks of plastic they use to celebrate deals, they may suffer from the Tombstone Blues.”
Unrelated: Dylan’s new album “Tempest” drops in a couple weeks. Here’s a cut: