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Investing.com -- Canadian singer The Weeknd is discussing a potential $1 billion financing deal backed by his music rights, according to a Bloomberg report Friday.
The proposed arrangement would use the artist’s stake in his music publishing rights and share of master recordings as collateral, the report said. The discussions are still ongoing, and the deal may not be finalized.
New York-based private equity firm Lyric Capital Group is engaged in talks with the singer and has contacted other investors to arrange the $1 billion financing package.
Lyric has reportedly proposed a structure that would include $500 million in senior debt, $250 million in junior debt, and $250 million in equity.
The financing would represent one of the largest music rights-backed deals for an individual artist if completed.