Sotheby's Financial Services is launching an innovative $500 million bond, collateralized by loans tied to artworks by renowned artists such as Rembrandt van Rijn, Andy Warhol, and Picasso. This marks a unique venture into the art-backed securities market.
Breakingviews - Sotheby’s next hot auction: a Picasso-backed bond https://t.co/AmzHOHr0Hu https://t.co/AmzHOHr0Hu
Breakingviews - Sotheby’s next hot auction: a Picasso-backed bond https://t.co/7FKekgdobf https://t.co/7FKekgdobf
From Breakingviews - Breakingviews - Sotheby’s next hot auction: a Picasso-backed bond https://t.co/BjU0q7MQ5S https://t.co/BjU0q7MQ5S
Loans tied to art from Rembrandt van Rijn and Andy Warhol are among the assets being bundled into an unusual $500 million bond from Sotheby’s Financial Services https://t.co/M9MI7JvfvZ via @markets
Loans tied to art from Rembrandt van Rijn and Andy Warhol are among the assets being bundled into an unusual $500 million bond from Sotheby’s Financial Services https://t.co/zyx3b1PJMS
Sotheby’s, the auction house owned by telecom billionaire Patrick Drahi, plans to borrow about $500 million through bonds backed by personal loans made to art collectors https://t.co/uF9DX3OHjg