Today on Blogcritics
Home » Bowie Bonds take a turn down

Bowie Bonds take a turn down

Please Share...Tweet about this on Twitter0Share on Facebook0Share on Google+0Share on LinkedIn0Pin on Pinterest0Share on TumblrShare on StumbleUpon0Share on Reddit0Email this to someone

Bad news for anyone who invested in the so called Bowie Bonds back in 1997 – analysts have downgraded the bonds to more or less nothing. Bowie set a new precedent when he sold shares in his 287 song catalogue back in 1997, raising $55 million. Those who bought bonds had a share of future royalties. The model created much excitement and James Brown, Joan Jett, Ashford and Simpson, Iron Maiden and Rod Stewart were among the artists to follow suit. However financial regulators Moodys this week declared the Bowie Bonds as “low quality speculative junk bonds highly speculative in their ability to meet interest and principal obligations”. What impact that analysis will now have on the bonds related to other artists’ work remains to be seen.

Via: CMU

Powered by

About Marty Dodge