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Recognition Music Group Raising $372 Million With Asset-Backed Security
In a significant move, Recognition Music Group is raising $372 million through an existing asset-backed security (ABS) deal. This capital raise is backed by the music rights of renowned artists such as Red Hot Chili Peppers, Journey, and Justin Bieber, among others.
Notably, this latest ABS, Lyra 2025-1, marks the company’s fourth such deal. For context, Recognition Music Group was previously known as Hipgnosis Songs Management.
Source: www.billboard.com
