DLA Piper represented Concord, a leading independent music company, in its US$1.765 billion music securitization (ABS), issuing a series of new five-year, seven-year, and ten-year senior notes. The ten-year tranche was privately placed and represents the longest duration ABS issuance at scale in the music sector.
The notes are secured by Concord’s catalog of more than 1.3 million music copyrights, which includes songs by The Beatles, Beyonce, Bruno Mars, Daddy Yankee, Ed Sheeran, Michael Jackson, Pink Floyd, Rihanna, Taylor Swift, and The Rolling Stones. This marks Concord’s fourth securitization offering, all of which have been supported by DLA Piper.
The DLA Piper global team was co-led by Partners Robert Sherman and Claire Hall (both Los Angeles) and included Partners Mark Dwyer (London), Gerald Rokoff (New York), John Wei (Boston), and Rachel Fertig (Washington, DC) and Associate Payvand Coyle (Los Angeles) among others in DLA Piper’s UK and European offices.
DLA Piper’s market-leading media assets securitization team co-led by Partners Robert Sherman and Claire Hall is one of the most active groups in the emerging media rights asset backed securitization sector and has represented leading music rights companies in raising capital to support their acquisition platforms, including over US$2.5 billion of ABS notes issued to date in 2025.