HarbourView ups credit facility capacity by $100m to buy more music rights

Based in 2021, HarbourView Fairness Companions has acquired over 45 music catalogs to this point and owns a catalog of over 26,000 songs, encompassing each grasp recordings and publishing earnings streams.

Now, the corporate, led by former Tempo Music CEO Sherrese Clarke Soares, has amended its senior secured credit score facility, led by Fifth Third Financial institution, to purchase extra music rights.

Underneath the amended facility, HarbourView’s credit score facility capability has been elevated by $100 million to $300 million (from $200m).

The agency says that it’ll use the extra funding to proceed buying music royalty property and for “common company functions”.

HarbourView additionally says that three new lenders “have been added to the syndicate” together with Financial institution of America as a brand new joint lead arranger, Barclays, and First Financial institution & Belief Firm, becoming a member of present lenders California Financial institution & Belief, MUFG Financial institution, Areas Financial institution and BankUnited.

Fifth Third Financial institution stays lead arranger, sole bookrunner and administrative agent.

HarbourView has been notably energetic within the music rights-buying house over the previous few months.

Simply final month, nation star Kane Brown sold ‘select publishing assets‘ to the corporate.

A few of the agency’s different latest offers embrace Christine McVie’s share of Fleetwood Mac’s recorded music royalties from the late artist’s property and a share of “choose” recorded music and publishing property from Grammy Award-winning artists Pat Benatar and Neil Giraldo.

Elsewhere, in July, the corporate acquired choose recorded property and the publishing catalog of multi-platinum-selling, singer, songwriter, and music producer Blackbear.

“HarbourView stays dedicated to offering the most effective execution for our rising LP base, in opposition to a comparatively difficult market setting.”

Carlos Cruz, HarbourView 

“HarbourView stays dedicated to offering the most effective execution for our rising LP base, in opposition to a comparatively difficult market setting,” mentioned HarbourView Head of Capital Markets Carlos Cruz

“We’re grateful to each our new and present financing companions for his or her dedication to HarbourView’s success.”

“As capital circumstances evolve, we’re grateful for the continued help of our banking companions who’ve helped help HarbourView’s large development since inception.”

Sherrese Clarke Soares, HarbourView 

HarbourView CEO and Founder Sherrese Clarke Soares, added: “As capital circumstances evolve, we’re grateful for the continued help of our banking companions who’ve helped help HarbourView’s large development since inception.”

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HarbourView has additionally amassed a catalog of music rights within the hip-hop house, hanging a deal in July for the “choose recorded music and publishing property” of Wiz Khalifa.

Information of that deal arrived simply hours after HarbourView announced that it had acquired “choose recorded music property” of Grammy Award-winning rapper, Nelly.

HarbourView has additionally acquired publishing catalogs from nation music artists Lady A and Brad Paisley, in addition to the publishing catalog of Latin music famous person Luis Fonsi.

The corporate secured Huge Loud Mountain Music’s writer share of choose songs from the catalog of nation music duo Florida Georgia Line and the music publishing catalog of Incubus.

HarbourView additionally acquired the catalog of SoundHouse Acquisitions LLC in 2022 for a reported $325 million.

The agency says on its website that it has as much as $1 billion of investable capital.

HarbourView was based in 2021 by former Tempo Music CEO Sherrese Clarke Soares with backing from Apollo World Administration.Music Enterprise Worldwide