It is being reported by Bloomberg that The Weeknd, aka Abel Tesfaye, is seeking $1 billion in financing by using his back catalogue as collateral.
It’s a move that will see him be able to access capital without selling his rights (though 50% of his publishing is owned by an investor group called Chord Music Partners). If it goes ahead, it will give Tesfaye $250 million in cash, but leave him $750 million in debt.
